Nvidia in Talks to Invest Hundreds of Millions in Australian AI Cloud Firm Firmus

Nvidia is in talks to invest hundreds of millions of dollars in Firmus, an Australian provider of AI cloud services, according to people familiar with the matter. Firmus withdrew its IPO plans in early October 2026.

The talks indicate Nvidia may continue supporting a group of companies referred to as a new breed of cloud providers, whose business models have not yet been proven. Such companies have borrowed heavily to purchase Nvidia GPUs to build data centers and are now under financial pressure.

Analysis shows Nvidia has taken on more than $170 billion in exposure to these companies and other major customers, including providing credit guarantees and helping them raise debt.