Australian artificial intelligence company Firmus announced a A$500 million fundraising round to accelerate the development of Project Southgate. Backed by Nvidia Corp and Ellerston Capital, the funds will be used for site development and infrastructure deployment for AI factories. The initiative, in collaboration with CDC Data Centres, aims to reach a capacity of up to 1.6 gigawatts by 2028. Global demand for AI-related services is driving investment in AI infrastructure, with Firmus positioning itself at the forefront. Co-CEO Tim Rosenfeld emphasized the importance of meeting demand in line with Australia’s renewable-energy future. ($1 = 1.5389 Australian dollars)

Read more at Yahoo Finance: Nvidia-backeed Australian AI company Firmus raises $325 million