NVIDIA-backed data centre firm raises $505 mn in investment round

NVIDIA-backed data centre firm Firmus Technologies has raised $505 million in an investment round. The round was led by Coatue Management and values the Australia-based firm at $5.5 billion. The firm is building a network of AI factories across Australia in collaboration with NVIDIA under Project Southgate, which is expected to reach a capacity of 1.6 gigawatts over three years.