Home / Business and Economy / Firmus Raises $324M to Boost Renewable-Powered AI Infrastructure in Australia
Firmus Raises $324M to Boost Renewable-Powered AI Infrastructure in Australia
14 Nov
Summary
- Firmus raises A$500M ($324.9M) to expand AI infrastructure
- Funding to support site development, deployment, and energy deals for AI data centers
- Project Southgate aims to reach 1.6GW capacity by 2028
On November 11, 2025, Australian artificial intelligence company Firmus announced a major equity raise of A$500 million ($324.9 million) to accelerate the development of its Project Southgate, an initiative to build renewable-powered AI infrastructure across the country.
The funding will be used by Firmus to expand site development, infrastructure deployment, and energy deals for AI factories, or data centers, in selected locations across Australia. The company aims to meet the growing global demand for AI-related services through this initiative, which is being developed in collaboration with CDC Data Centres and Nvidia.
"With demand for AI infrastructure accelerating, this funding ensures we can meet it quickly, cost-effectively, and in line with Australia's renewable energy future," said Firmus Co-CEO Tim Rosenfeld. Project Southgate is expected to reach a capacity of up to 1.6 gigawatts through 2028.
This latest funding round comes just two months after Firmus closed a A$330 million equity placement in September 2025, with a cornerstone investment by Ellerston Capital and participation from Nvidia. The company is positioning itself as a key player in the rapidly growing AI infrastructure market.
