Firmus plans $4.4b private raise but upfront Nvidia, Meta payments key

Detailed summary

The talks are advanced and facilitate part of the group’s contracts being paid upfront to help fund data centre capacity. An equity raise is also on the cards.

Firmus is hoping to raise $US3 billion ($4.4 billion) privately by issuing new shares and debt and locking in pre-payments from mega-customers including Nvidia and Meta, as the artificial intelligence infrastructure group seeks fresh funding after the spectacular collapse of its planned $44 billion ASX listing.

The pre-payment talks are the most advanced of Firmus’ raising plans and could facilitate about 12.5 per cent of the company’s contracts being paid upfront to help fund yet-to-be-built AI and data centre capacity, three people with knowledge of the plan said on the condition of anonymity.

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