Firmus Technologies, an Nvidia-backed AI infrastructure startup, reportedly discusses raising approximately $10 billion in financing. This funding precedes its planned initial public offering in Australia. The deal is expected to comprise about $7.5 billion in debt and $2.5 billion in equity.
The capital will fund Nvidia graphics processor (GPU) purchases. These GPUs are for a 360-megawatt AI data center campus developing in Batam, Indonesia. The financing deal reportedly includes revenue sharing and credit support from Nvidia, highlighting the strategic partnership.
Firmus prepares for an IPO on the Australian Securities Exchange (ASX), targeted for late October. The public offering could raise up to $5 billion. This would rank it among the largest listings in Australian history.