Nvidia-Backed Data Center Builder Firmus Raises $505 Million (1)

Data center builder Firmus Technologies Pty raised $505 million in an investment round led by Coatue Management LLC, part of a global push to finance artificial intelligence infrastructure.

The deal values the Australian startup at $5.5 billion, Firmus said Monday. Nvidia Corp., the top maker of AI accelerator chips, also participated in the round.

Nvidia CEO Jensen Huang sees so-called sovereign AI as a major growth driver.

Photographer: David Paul Morris/Bloomberg

The cash will go toward rapidly deploying AI hardware based on forthcoming Nvidia computer technology in the Asia-Pacific region. Firmus, which has data center projects in Australia and Singapore, has raised $1.35 billion in the last six months, including this latest transaction.

Firmus ...