Overview
- The company confirmed an equity raise of A$500 million to accelerate its nationally distributed AI infrastructure program.
- Project Southgate targets up to 1.6 gigawatts of AI capacity by 2028 through renewable‑powered, high‑density data centres.
- New capital will support sites spanning Perth to Sydney and Tasmania, with emphasis on long‑term clean‑energy sourcing.
- Firmus cites ongoing collaboration with Nvidia and CDC Data Centres, following a A$330 million placement in September that included Ellerston Capital and Nvidia.
- Valuation reporting varies, with AFR stating a jump to about US$6 billion while other outlets do not confirm that figure; the company has also signalled a possible IPO next year, and reports indicate plans for Melbourne and Tasmania sites to go live by April with Nvidia GB300‑class chips.