Data centre deal collapses weeks before Firmus IPO
CDC will no longer build data centres for Firmus, ending a planned 1.6GW compute project across six Australian cities.
CDC founder Greg Boorer told a podcast his company was unlikely to build further data centres for Firmus, killing Project Southgate. The partnership had aimed to develop compute infrastructure in Tasmania, Melbourne, Perth, Adelaide, Canberra and Sydney by 2028.
The Melbourne stage delivered 42 megawatts for Meta, but expansion to 150MW will not happen. Firmus missed its first rental payment on the existing facility.
Nvidia was part of the original project, which was expected to create up to 20,700 jobs by 2028. Firmus is raising $7.1 billion ahead of an ASX listing on 23 October at a $44 billion valuation.
The company is still pursuing a $43 billion data centre deal in Indonesia with Nvidia. Neither CDC Data Centres nor Firmus responded to requests for comment.
- 42 megawatts for Meta
- Melbourne facility
- $44 billion
- Firmus IPO valuation
- up to 20,700 jobs by 2028
- Projected employment
Why it mattersThe collapse removes a major Australian infrastructure project weeks before Firmus's public float, raising questions about the startup's partnerships and ability to deliver.
AustraliaAustralian data centre capacity won't expand as planned, and the projected 20,700 jobs in Tasmania, Canberra and other cities won't materialise unless a new partner replaces CDC.
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