F
Firmus
GPU cloudPrivateFirmus is a GPU cloud based in Launceston, Australia, founded in 2019. Status: private (ASX IPO withdrawn 2026-10-09).
Capacity, contracted—not disclosed in MW
Capacity, operating—not disclosed
Valuation$10.5Bpost-money, Aug 2026
Compute deals on record1see table below
Key facts
| Classification | GPU cloudHow types are assigned |
| Status | Private (ASX IPO withdrawn 2026-10-09) |
| Headquarters | Launceston, Australia |
| Founded | 2019 |
| Founders | Oliver CurtisTim RosenfieldLinkedInJonathan LeveeLinkedIn |
| Capacity and backlog | Firmus's Project Southgate targets about 1.6 GW of AI compute capacity across Australian sites by 2028, with a flagship campus in Tasmania (company plan). On 29 September 2026 Firmus said it had signed AI infrastructure agreements with Meta for GPU compute capacity at its data centre facilities in Southeast Asia, with contracted capacity and expansion options; financial terms were not disclosed (Reuters via CNA). In October 2026 a planned partnership with CDC Data Centres to build AI data centres in Australia was reported as abandoned (ACS Information Age).Reported, not confirmed by the company |
| Chips | NVIDIA |
| Named customers | OpenAI, Meta |
| Latest financing | $2B, equity round, Aug 2026 |
| Investors named | Blackstone (credit), Coatue, NVIDIA |
| Debt and financing | In February 2026 Firmus secured a US$10 billion private debt facility for Project Southgate, led by funds managed by Blackstone with Coatue (as reported by DatacenterDynamics). On 9 October 2026 Firmus withdrew its proposed ASX initial public offering, a raise of about US$5 billion, citing market volatility, and said it would pursue capital from the private markets and consider other public and private market options (company statement reported by SmartCompany). |
| Website | firmus.co |
| Profiles and work | X @FirmusCloudLinkedInHow links are checked, checked 10 Nov 2026 |
Sources for this table: datacenterdynamics.com, datacenterdynamics.com, smartcompany.com.au, channelnewsasia.com, ia.acs.org.auchecked 10 Nov 2026
Compute deals and financings
| Date | Counterparty | Role | Type | Value | Capacity | Status | Source · checked |
|---|---|---|---|---|---|---|---|
| 29 Sep 2026 | Meta | Provider | Capacity contractNVIDIA (DSX platform) | undisclosed | — | Confirmed | channelnewsasia.com Australia's Firmus said on Tuesday it had signed AI infrastructure agreements with Facebook parent Meta Platforms for graphics processing unit compute capacity at its data centre facilities in Southeast Asiachecked 10 Nov 2026 |
Investors by round
| Investor | Round | Date | Round size | Role | Status | Source |
|---|---|---|---|---|---|---|
| Blackstone | private debt facility | 2026-02 | $10B | lead | Confirmed | |
| Coatue | private debt facility | 2026-02 | $10B | participant | Confirmed |
Latest posts on X
The most recent posts from @FirmusCloud, the X account of Firmus, quoted as posted. Replies and reposts are left out. How posts are selected.
🏆 Congratulations to Jonathan Levee, our Co-Founder and Principal Engineer, whose work on grid-connected computing technology has secured another Australian patent for Firmus! The patent builds on our R&D work in Tasmania and an original filing in 2022. The technology enables computing hardware to intelligently adjust its power profile in response to changes in electricity grid frequency, helping balance supply and demand. The algorithm uses grid frequency measurements and derivatives in a predictive model. Its weighting coefficients can be trained and adjusted dynamically for different…
Read the full post on X · With 1 image
As AI agents take on more complex work, how do we engineer safety across the entire AI infrastructure stack? Our CTO, Daniel Kearney, shares how we’re working with NVIDIA on OpenShell Reference Architecture-ready infrastructure, and why integrating security, software and physical infrastructure matters for safer, more efficient AI, from model to grid. firmus.co/newsroom/engineering-safe-agent…
This week, we marked significant milestones in Australia and Asia. In Launceston, Tasmania, the roof is now complete on Data Hall 1, the first of two 42 MW halls, with primary cooling pipework already installed. In Indonesia, the first data hall has been handed over by our data centre and construction partner, allowing our teams to begin installing HyperCube ahead of compute delivery and installation.
View the post on X · With video
checked 10 Nov 2026
Is Firmus publicly traded?
Firmus is not independently listed: private (ASX IPO withdrawn 2026-10-09). Its latest disclosed valuation is $10.5B post-money (Aug 2026).
EveryNeo is an independent informational project. Nothing here is investment, legal or financial advice. Disclaimer
Other GPU clouds on the ledger
| Company | Status | Contracted | Operating | Valuation / market cap |
|---|---|---|---|---|
| DDigitalOcean | NYSE:DOCN | 180 MW | — | $9.24B |
| IIREN | NASDAQ:IREN | 300 MW | — | $9.09B |
| FFluidstack | Private | — | — | $7.5B |
| LLambda | Private | — | — | $14.5B |
| NNscale | Private | 1.37 GW | — | $14.6B |
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