Firmus, the ‘Southgate’ AI datacenter builder backed by Nvidia, hits $5.5B valuation

THIS WEEK ONLY: Save close to $500 on your Disrupt pass. Offer ends April 10, 11:59 p.m. PT. Register here. Save up to $680 on your Disrupt 2026 pass. Ends 11:59 p.m. PT tonight. REGISTER NOW. TechCrunch Desktop Logo TechCrunch Mobile Logo LatestStartupsVentureAppleSecurityAIApps EventsPodcastsNewsletters SearchSubmit Site Search Toggle Mega Menu Toggle Topics Latest Asia AI data center provider Firmus on Monday announced a fresh $505 million raise led by Coatue at a $5.5 billion post money valuation. With this round, Firmus has raised $1.35 billion in six months, it says. The Singapore-based data center company previously raised AU$330 million (approximately $215 million) at an AU$1.85 billion ($1.2 billion) valuation from investors, including Nvidia. Firmus is developing an energy-efficient “AI factory” network of data centers in Australia and Tasmania, a project it dubs Project Southgate. It is using Nvidia’s reference designs for building these efficient data centers. These new data centers will use Nvidia’s Vera Rubin platform — the chip giant’s next-gen AI computing system succeeding its Blackwell architecture, expected to ship in the second-half of 2026. Firmus originally provided cooling technologies for Bitcoin mining and has become yet-another crypto-roots-turned-AI provider company that investors love. StrictlyVC kicks off the year in SF. Get in the room for unfiltered fireside chats with industry leaders, insider VC insights, and high-value connections that actually move the needle. Tickets are limited. Newsletters See More Subscribe for the industry’s biggest tech news Every weekday and Sunday, you can get the best of TechCrunch’s coverage. TechCrunch Mobility is your destination for transportation news and insight. Startups are the core of TechCrunch, so get our best coverage delivered weekly. Provides movers and shakers with the info they need to start their day. By submitting your email, you agree to our Terms and Privacy Notice. Firmus, the ‘Southgate’ AI datacenter builder backed by Nvidia, hits $5.5B valuation Julie Bort 57 seconds ago TechCrunch Disrupt 2026 4 days left to save close to $500 on TechCrunch Disrupt 2026 passes TechCrunch Events 5 hours ago Climate Why a former AirPods engineer is now building heat pumps Tim De Chant 6 hours ago X LinkedIn Facebook Instagram youTube Mastodon Threads Bluesky TechCrunchStaffContact UsAdvertiseCrunchboard JobsSite Map Terms of ServicePrivacy PolicyRSS Terms of UseCode of Conduct OpenAIIranGas PricesTeslaAppleTech LayoffsChatGPT © 2026 TechCrunch Media LLC.