A planned 360 MW AI Factory in Indonesia will be funded by a $10 billion financing package currently being negotiated by Firmus Technologies. The Australian startup intends to use the capital to purchase Nvidia chips for its DSX campus in Batam, which is being developed in partnership with DayOne Data Centers. The proposed transaction consists of $7.5 billion in debt and $2.5 billion in equity, with Nvidia providing revenue-sharing and credit support to mitigate risk for lenders.

The capital raise precedes a scheduled initial public offering in late October. The IPO is projected to raise up to $5 billion, which would make it one of the largest listings in the history of the Australian market. Firmus is currently backed by Nvidia.