Firmus plans to deploy a large portion of the new funding to acquire Nvidia AI chips for a planned data center in Launceston, Tasmania, as part of its broader expansion across Australia.

Firmus operates in high-performance computing, cloud, and AI-as-a-Service for businesses, research institutions, and government bodies, leveraging Nvidia GPUs for AI infrastructure.

The funding values Firmus Technologies at about A$15.5 billion on a post-money basis, roughly doubling its prior valuation.

The investment consists of preference shares that are expected to convert to ordinary shares at Firmus’s IPO on the ASX, targeting roughly a 12-month timeframe.

Nvidia is viewed as a top pick among analysts for its AI infrastructure leadership, with a consensus Strong Buy and a mean target price implying about 51.5% upside.

Analysts tally about 36 Buy ratings and 1 Hold for Nvidia, underscoring strong confidence in its AI chip and platform strategy.

Investors see Nvidia's move to back AI infrastructure customers alongside selling its chips as a driver of future GPU demand.

Nvidia purchased preference shares in Firmus that are expected to convert to ordinary shares upon Firmus’s planned IPO.

Firmus plans an ASX listing within the next year and has a July 31 shareholder meeting to approve the fundraising and a 50-for-1 stock split to broaden retail access.

Nvidia has committed about A$720 million (roughly $500 million) to Firmus, making Nvidia the lead investor in Firmus’s A$2.9 billion funding round.

The collaboration expands Nvidia’s AI infrastructure footprint with a separate project to deploy 170,000 Nvidia GPUs at a new AI data center in Batam, Indonesia, with shipments expected in 2027–2028.