Nvidia in talks to invest in Firmus after neocloud scrapped its IPO

Nvidia is in talks to invest several hundred million dollars in Firmus, the neocloud that scrapped its IPO earlier this month, The Information reported in a story relayed by Data Center Dynamics. The report, citing people familiar with the matter, describes talks, not an agreement.

Firmus pulled the listing after reducing its offer price. Data Center Dynamics quoted the board as saying it "concluded that proceeding with the offer was not in the best interests of the company and its shareholders," and that Firmus would pursue capital from the private markets while considering alternative public and private market options.

Bloomberg previously reported Firmus was seeking $2bn to $3bn privately, after an IPO in which it had hoped to raise as much as $5bn. An Nvidia contribution of several hundred million dollars would be a minority of the low end of that range.

Nvidia has participated in Firmus's last three funding rounds. The two companies are building a 170,000-GPU data center in Batam, Indonesia, under an agreement that has Firmus procuring Nvidia AI infrastructure through 2034 and selling Nvidia-powered cloud services. Firmus was also an early participant in Nvidia's credit-sharing agreements, acting as a backstop in return for a share of revenue.

According to The Information, Nvidia has invested some $170bn in neoclouds and other large customers, including credit guarantees to help those customers raise the debt their AI buildouts require.

Firmus raised $2bn in an equity sale in August 2026, at a post-money valuation above $10.5bn, following a $505m round in April. It has raised more than $13bn in total, around $10bn of that debt, and names Blackstone, Coatue Management and Jane Street among its major investors.

Before the IPO was dropped, Firmus and CDC Data Centres ended their partnership over Firmus's planned expansion in Asia. CDC chief executive Greg Boorer told Data Center Dynamics his firm was "certainly not planning on doing 1.6GW of rollout with them because they made other choices regarding doing their own data center developments." He also said Firmus would need to raise tens of billions of dollars to scale as planned.