What does Firmus actually sell?

Firmus sells dedicated AI-factory capacity at megawatt scale on multi-year contracts, built on NVIDIA GB300 and Vera Rubin systems and powered entirely by renewable energy, primarily through its Project Southgate program in Australia.

Who should choose Firmus?

Firmus fits hyperscalers, sovereign and government tenants, and large inference platforms that procure compute in megawatts and value renewable power and APAC data residency. It is not designed for small teams needing on-demand GPUs.

How big is Firmus in 2026?

As of mid-2026 Firmus has secured a US$10 billion debt facility led by Blackstone, raised about $1.35 billion in equity at a $5.5 billion valuation, and is targeting up to 1.6GW of capacity by 2028 under Project Southgate.

Firmus: Sells megawatts and whole AI factories — The Compute Ladder

The two-sided view

What Firmus sells — and what it buys

Atomic unit sold

Dedicated AI-factory capacity — MW-scale, multi-year contracts — plus a planned class of renewable “green AI tokens” as a branded export.

What they buy

Renewable power (Hydro Tasmania PPA, ~104MW), land, GB300 / Vera Rubin systems, and capital at national-infrastructure scale.

Verified 4 July 2026

Scale proof

US$10B

private debt facility led by Blackstone (Feb 2026) — among the largest private-debt deals in Australian history

$5.5B

post-money valuation after a $505M equity round led by Coatue (Apr 2026), NVIDIA participating; ~$1.35B total equity, ASX IPO planned

1.6GW

Project Southgate target across Australia by 2028; first stages in Tasmania and Melbourne with up to 150MW / ~54,000 GB300s by mid-2026

~18,400

GB300 GPUs covered by a multi-billion-dollar contract with an unnamed global technology platform at Southgate Melbourne

The strategy

The bet

That “sovereign + sustainable” becomes a pricing premium rather than a marketing checkbox — that allied markets will pay extra for auditable, renewable-powered AI tokens the way they pay for green steel. Claimed PUE of 1.03–1.10 on 100% renewable power is the technical case.

Deal-making

Natural counterparty

Hyperscalers and sovereign or government tenants who buy in megawatts, plus inference platforms needing APAC renewable capacity at scale. Not individual AI startups — the minimum ticket is too large.

Buyer fit

Choose Firmus when

You need dedicated, multi-year, renewable-powered capacity in APAC, or a sustainability-mandated procurement.

Look elsewhere when

You need GPUs next week, or fewer than thousands of them.

Private ledger

Five fields we track but don’t publish

Everything above is public and verifiable. The fields below change weekly and are verified directly with each provider — they live in a private supply-demand ledger, not on this page.

Available capacity, next 90 daysGPU type · quantity · location · online date

Effective price floorreserved · per-GPU-hour, at volume

Idle-inventory posturecurrent utilization pressure

Preferred deal structureattach terms · co-sell terms

Capacity-partnerships ownerthe person who signs

Ask about Firmus’s current posture → Answered case-by-case, with the provider’s consent.