REPORT: Nvidia-Backed Firmus Seeks $3 Billion in Private Funding After Abandoned IPO
Australian AI infrastructure company Firmus is seeking new equity, debt and customer prepayments after scrapping its planned stock-market listing, according to the Australian Financial Review.
Australian artificial intelligence infrastructure company Firmus is seeking about $3 billion in private funding after abandoning its planned stock-market listing, the Australian Financial Review reported Sunday.
The Nvidia-backed company is considering a mix of new shares, debt and advance payments from major customers, including Nvidia and Meta, according to the report.
Talks over those customer prepayments are the most advanced part of the funding effort. The arrangement could involve about 12.5% of customers' contracts being paid upfront, helping fund AI computing and data-center capacity that has not yet been built.
The new financing push follows the collapse of Firmus' planned Australian Securities Exchange debut. The proposed listing would have valued the company at roughly $30 billion.
The private fundraising remains under discussion. The final mix of financing and its timing have not been confirmed.