Firmus Announces Fully Subscribed USD$2 Billion Strategic Equity Investment

Sydney, 7 August 2026

AI infrastructure company Firmus today announced it has received full commitments for a USD$2 billion strategic equity investment round. The round includes follow-on participation from Coatue and NVIDIA, alongside new investment from funds managed by Blackstone Tactical Opportunities and other Blackstone vehicles (“Blackstone”), with additional participation from global trading and technology firm Jane Street.

The investment will accelerate the next phase of Firmus’ Project Southgate AI Factory rollout across Australia while also laying the groundwork for expansion into other key Asia-Pacific markets.

With Firmus’ Australian manufacturing capability for its proprietary HyperCube platform and grid-aware software already established, the capital enables Firmus to accelerate its Australian rollout while making targeted investments to prepare for further expansion. Firmus is building AI infrastructure based on NVIDIA DSX AI Factory Reference Architecture to bring capacity online faster, improve tokens per watt and strengthen resiliency at scale.

Oliver Curtis, Co-Chief Executive Officer of Firmus, said:

“This investment allows us to move on multiple fronts at once. We’re scaling across Australia while fast-tracking our capacity to expand into the wider Asia-Pacific region, including the early steps behind our recently announced Indonesia development that will serve AI-native customers. We’re excited to see continued backing from Coatue, NVIDIA, Blackstone and Jane Street as we build one of the world’s leading AI infrastructure platforms from Australia.”

John Watson, Senior Managing Director, Blackstone, said:

“We believe AI infrastructure will be a foundational driver of global growth and it is among our highest conviction investment themes. We are pleased to continue to invest in Firmus and support platforms at the forefront of AI innovation.”

Robert Yin, General Partner, Coatue, said:

“We continue to believe Firmus represents a differentiated approach to AI infrastructure. Its combination of proprietary IP, manufacturing innovation and a repeatable deployment model creates a compelling platform to serve the growing needs of both AI-native companies and enterprise customers as demand for AI infrastructure continues to accelerate.”

Daniel Pontecorvo, Head of Physical Engineering, Jane Street, said:

“As AI models become larger and more capable, access to reliable, high-performance compute becomes increasingly important. Firmus is helping build the infrastructure needed to support that next generation of AI, and we’re pleased to back the team’s continued growth.”

This transaction brings Firmus’ total new equity raised over the past year to more than USD$3 billion, with the post-money valuation now above USD$10.5 billion.

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This announcement is not an offer to sell or a solicitation of any offer to buy any securities of Firmus Grid Limited (the "Company", and such securities, the "Securities") in the United States, or in any other jurisdiction where such offer or sale would be unlawful.

The offer and sale of Securities have not been, and will not be, registered under the US Securities Act of 1933 (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States. Accordingly, any Securities may not be offered, sold, resold, pledged, delivered, distributed or transferred, directly or indirectly, into or within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. No public offering of Securities is being made in the United States.

About Firmus

Firmus Grid Limited, trading as Firmus Technologies, is an AI Factory Platform company built on a simple idea: energy in and tokens out – as efficiently as possible. Vertically integrated from model to grid, Firmus uses proprietary energy and cooling technology to build and deliver cutting-edge AI infrastructure with scale, reliability and performance. Headquartered in Sydney, Australia, Firmus provides AI cloud services across Asia Pacific and beyond, powered by AI factories that strengthen the grid and accelerate the adoption of renewable energy. Follow @firmustechnologies on LinkedIn.

About Blackstone

Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram. 

About Coatue

Coatue is a global technology investment platform with more than $90 billion in assets under management. Coatue’s integrated team of investors, technologists, and data scientists invests across public and private markets through a range of strategies. The firm is known for its long-standing, research-driven approach to backing companies shaping the future of technology. Further information is available at www.coatue.com. Follow Coatue Management on LinkedIn and @Coatuemgmt on X.

Media
Kate McLaughlin
kate.mclaughlin@firmus.co
+64 27 533 4529

Stephen McMahon
stephen.mcmahon@sodali.com
+61 407 507 515

Investors
Toby Langley
toby.langley@firmus.co
+61 450 223 995