Nvidia Invests $500M in Firmus Technologies Ahead of Planned ASX IPO

Nvidia (NASDAQ: NVDA) has agreed to invest approximately A$720 million (US$500 million) in Australian cloud infrastructure startup Firmus Technologies, becoming the largest participant in the company’s planned A$2 billion equity raising, according to a report by the Australian Financial Review (AFR).

The investment significantly boosts Firmus Technologies’ valuation to around US$15.5 billion on a post-money basis, nearly doubling its previous valuation. The funding is expected to strengthen the startup’s position as it prepares for an Australian Securities Exchange (ASX) initial public offering, which is targeted within the next 12 months.

The AFR reported that Nvidia’s investment will be made through preference shares, which are expected to convert into ordinary shares once Firmus completes its IPO. The move further highlights Nvidia’s growing involvement in global AI infrastructure projects as demand for advanced computing power continues to accelerate.

Firmus plans to use a large portion of the fresh capital to purchase Nvidia’s AI chips for its planned data centre development in Launceston, Tasmania. The company also intends to expand its broader Australian data centre pipeline, positioning itself to meet increasing demand for cloud computing and artificial intelligence infrastructure.

According to the report, Firmus has scheduled an extraordinary general meeting for July 31, where shareholders will vote on the proposed capital raising. Investors will also consider a planned 50-for-1 share split designed to reduce the company’s per-share price before the IPO, making the stock more affordable and attractive to retail investors.

If approved, the capital raising and share split are expected to pave the way for one of Australia’s most closely watched technology listings. Nvidia’s participation is likely to enhance investor confidence in Firmus as it builds out AI-focused infrastructure and prepares to enter the public market.

The planned listing comes as demand for AI data centres continues to surge worldwide, with Nvidia remaining a key supplier of the high-performance chips that power artificial intelligence applications across industries.