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Firmus seeks to raise $5 billion in IPO on Australian Securities Exchange
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The Singapore-based AI data center developer, which traces its roots to Bitcoin mining, is targeting one of the largest tech listings in Australian history.
Key facts
- In April 2026, Firmus raised US$505 million at a post-money valuation of US$5.5 billion
- Firmus Technologies is planning an initial public offering on the Australian Securities Exchange that could raise up to US$5 billion, roughly A$7 billion
- Firmus secured a US$10 billion debt facility led by Blackstone in February 2026
- The decision to upsize the IPO from its original US$2 billion target stems from a surge in contracted revenue pipelines
Summary
Firmus Technologies is planning an initial public offering on the Australian Securities Exchange that could raise up to US$5 billion, roughly A$7 billion. The Singapore-headquartered AI data center developer has already begun investor meetings across Asia as of mid-September 2026, with Australian roadshows expected to follow. Firmus was founded in 2019 by Oliver Curtis, Tim Rosenfield, and Jonathan Levee. The company now builds liquid-cooled AI factories using Nvidia ’s reference architectures.