Firmus Technologies Pursues $10B Funding Before Australia IPO, Nvidia (NVDA) Partnership Deepens

Key Highlights

Table of Contents

AI infrastructure provider Firmus Technologies is pursuing approximately $10 billion in pre-listing capital.
The financing structure may consist of around $7.5 billion in debt instruments and $2.5 billion in equity capital.
A separate Australian stock exchange listing could generate approximately $5 billion in October.
Capital will fuel graphics processing unit acquisitions and AI data center buildout throughout the Asia-Pacific region.
This transaction would strengthen Nvidia’s strategic and financial relationship with a critical infrastructure ally.

According to Bloomberg reports, Firmus Technologies—which counts Nvidia among its strategic backers—is negotiating to secure roughly $10 billion in capital before launching its Australian public market debut. If finalized, this transaction would represent one of the most substantial digital infrastructure financing arrangements in the Asia-Pacific region.

Nvidia-backed Firmus is in talks to raise $10B to buy $NVDA chips for its 360MW AI data center in Batam, Indonesia, ahead of an Australian IPO that could raise up to $5B

Financing: $7.5B debt + $2.5B equity

Nvidia is also expected to provide revenue-sharing and credit support pic.twitter.com/z0Gm5g5SA9

— Wall St Engine (@wallstengine) September 23, 2026

Sources with knowledge of the negotiations indicate the capital package would feature approximately $7.5 billion in debt financing alongside $2.5 billion in equity investment. The debt component could potentially be structured across senior and mezzanine tranches carrying a five-year maturity.

Australian Listing Could Rank Among Nation’s Largest

Concurrently, Firmus is advancing preparations for a public offering on the Australian Securities Exchange that could generate around $5 billion in proceeds. According to Reuters, the institutional investor roadshow is scheduled to commence on October 6, with shares anticipated to begin trading on October 22.

If completed at the projected valuation, this flotation would become Australia’s second-largest initial public offering on record, trailing only the 1997 Telstra privatization. The capital raised is earmarked to accelerate the company’s aggressive buildout of artificial intelligence computing infrastructure.

Since its establishment in 2019 as a cryptocurrency mining venture, Firmus has transformed into a specialized AI data center operator with active projects and operational facilities spanning Australia and broader Asia. Nvidia has emerged as a pivotal technology and strategic partner as Firmus scales infrastructure optimized for cutting-edge AI accelerators.

Nvidia recently identified Firmus as one of several collaborators in an ambitious blueprint to dramatically increase AI-focused data center capacity across Australia. This comprehensive strategy targets the addition of up to 2 gigawatts of AI computing capacity distributed among multiple infrastructure operators.

Regional Expansion Gains Momentum

Beyond Australia, Firmus is constructing a 360-megawatt AI computing facility in Batam, Indonesia, in partnership with DayOne Data Centers. This installation will deploy Nvidia computing systems and represents a cornerstone of the company’s strategy to establish large-scale AI infrastructure throughout the region.

The company has also locked in OpenAI as an anchor tenant for computing resources from two forthcoming Malaysian data centers. Reuters disclosed earlier this month that this multi-year commercial agreement adds substantial contracted capacity to Firmus’ customer portfolio.

Bloomberg’s reporting suggests Nvidia may contribute revenue-sharing mechanisms and credit enhancement provisions as components of the latest financing arrangement. Such collaborative frameworks have become increasingly prevalent as Nvidia partners with infrastructure developers to expedite procurement and deployment of its semiconductor products.

While this approach can facilitate accelerated growth trajectories, it simultaneously creates more interconnected financial relationships between Nvidia and the entities purchasing its hardware platforms. Prospective investors evaluating the upcoming listing will probably scrutinize Firmus’ leverage ratios, operational execution capabilities, and whether contracted AI computing demand proves durable enough to justify its expansion roadmap.

✨ Limited Time Offer