Nvidia has reportedly invested AUD$720 million in Firmus Technologies' $2 billion capital raise, making Nvidia the largest investor in the Australian startup, which is now valued at AUD 15,5 billion. Firmus will use the proceeds to purchase Nvidia chips for its data center project in Launceston and support its broader expansion, ahead of its Sydney Stock Exchange listing later this year. Firmus has called a shareholders' meeting for the end of July to approve the capital increase for the IPO and a 50-to-1 stock split. Meanwhile, competitor Cerebras announced its intention to invest “several billion dollars” to increase the computing capacity of its AI data centers in Europe, described by CEO Andrew Feldman as “a massive expansion” to meet the “rapidly growing” needs of European customers. Cerebras, which raised over $5,55 billion in its IPO last May, operates three data centers in France, Finland and Norway, which will be expanded to reach a computing capacity of 200 MW by 2027.