Neocloud profile
Firmus
Firmus is an AI-factory developer using immersion cooling, building Project Southgate in Tasmania and other Australian campuses ahead of a planned ASX listing.
Founded: 2019. Headquarters: Singapore, with major Australian operations. CEO: Oliver Curtis and Tim Rosenfield.
Key figures
- Project Southgate up to about 400MW, company-stated
- About US$5.5bn valuation reported in Apr 2026
- Roughly 36,800 GB300 planned for Tasmania, company-stated
At a glance
| Field | Value |
|---|---|
| Type | AI-factory developer and operator, immersion cooled |
| Flagship | Project Southgate, Launceston, Tasmania |
| GPU fleet | Roughly 36,800 NVIDIA GB300 in Tasmania and roughly 18,500 in Melbourne, company-stated |
| Platform | Sustainable Metal Cloud immersion plus AI FactoryOS |
| Backers | Coatue, NVIDIA equity and Blackstone debt, reported |
| Status | Private, preparing an ASX IPO |
Facilities and capacity
Firmus's Australian AI-factory capacity is centred on Project Southgate in Launceston and a Melbourne GPU deployment.
| Deployment | Location | Scale or scope | Status |
|---|---|---|---|
| Project Southgate | Launceston, Tasmania | Up to about 400MW at full build, first stage about 90MW, company-stated | Build-out |
| Southgate Melbourne | Melbourne | Roughly 18,500 NVIDIA GB300, company-stated | Planned |
| National multi-capital plan | Australian capitals | Additional campuses to confirm at publish | Planned |
Funding and investors
| Date | Round or agreement | Amount or scope | Counterparty |
|---|---|---|---|
| Apr 2026 | Equity round | About US$505m | Coatue with NVIDIA participation, reported |
| 2026 | Debt package | About A$10bn | Blackstone, reported |
| Target 2026 | Planned ASX IPO | Around A$2bn target, reported | Confirm at publish |
Technology and platform
Firmus uses immersion and liquid cooling for high-density GPU deployments and attributes energy-reduction claims to its platform.
Sustainable Metal Cloud Hypercubes are used across STT GDC-linked deployments by the company's account.
AI FactoryOS is the company's software layer for managing AI-factory operations.
Leadership
| Name | Role |
|---|---|
| Oliver Curtis | Co-CEO |
| Tim Rosenfield | Co-CEO |
| Jonathan Levee | Named in Firmus leadership materials |
How Firmus compares
| Company | Status or presence | Capacity or commitment | Model or program |
|---|---|---|---|
| Firmus | Private, pre-IPO | Project Southgate up to about 400MW, company-stated | Immersion-cooled AI-factory campuses |
| Sharon AI | NASDAQ:SHAZ | Up to 54MW via NEXTDC, company-stated | Hosted in operator facilities |
Latest coverage
Latest coverage is populated from insights tagged firmus on the live page.
Frequently Asked Questions
What is Firmus?
Firmus is an AI-factory developer and operator using immersion cooling for high-density GPU infrastructure.
Where is Project Southgate?
Project Southgate is Firmus's flagship Australian campus in Launceston, Tasmania.
When is the Firmus IPO?
Firmus has been reported as preparing an ASX IPO in 2026. Timing, raise size and valuation should be confirmed at publish.
Who backs Firmus?
Reported backers include Coatue, NVIDIA equity participation and Blackstone debt.
How big is Project Southgate?
Firmus describes Project Southgate as up to about 400MW at full build.
Add to this profile
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