Nvidia is negotiating to invest several hundred million dollars in Firmus, an Australian GPU cloud provider looking to raise $2 billion or more from private investors after withdrawing its roughly $5 billion IPO this month, according to Phoebe Liu at The Information. Nvidia has backed Firmus in each of its last three rounds, and in June it agreed to provide credit support for Firmus’ roughly $15 billion purchase of racks holding 170,000-plus Nvidia GPUs, in return for a share of its cloud revenue. Nvidia keeps backing debt-laden neoclouds like Firmus because Amazon, Google and Microsoft now make their own chips, even as rising rates sent shares of CoreWeave and smaller listed rivals down about 20% last week.
