A major deal has emerged in the AI computing power sector! Firmus and OpenAI have signed a long-term agreement for data center capacity in Malaysia.

Australian data center construction firm Firmus announced on Tuesday that it has signed a multi-year agreement with artificial intelligence (AI) giant OpenAI to provide computing power from its two data centers in Malaysia, making the ChatGPT developer its anchor client. The parties did not disclose the specific financial details of the agreement. As the demand for infrastructure required to run advanced AI models surges, the importance of data center computing capacity continues to grow. Following the agreement with OpenAI, Firmus's total signed computing capacity available to all clients has increased to over 900 megawatts (MW). Traditionally, the AI computing market has been dominated by tech giants with substantial capital and scale advantages, enabling them to secure cutting-edge GPU resources at lower unit costs. Firmus's business model aims to offer NVIDIA Corporation's top computing power to small and medium-sized AI developers in a more flexible manner through scaled infrastructure deployment and revenue-sharing mechanisms. Firmus's asset portfolio includes two operational AI data centers located in Australia and Singapore, as well as five data centers currently under development in the Asia-Pacific region. Firmus plans to deploy NVIDIA Corporation's next-generation Vera Rubin processors on a large scale throughout the Asia-Pacific region, and the new Malaysian market will further expand its business footprint in the area. Malaysia has become the fastest-growing data center market in Southeast Asia, although the rapid construction of data centers has also raised scrutiny over power and water resource usage. At the time of the agreement's signing, market rumors suggested that Firmus plans to conduct its initial public offering (IPO) this year, which could potentially become one of the largest IPOs in Australia in recent years. The AI infrastructure company has been valued at over $10.5 billion in its most recent funding round, with participation from NVIDIA Corporation (NVDA.US), Jane Street, Blackstone (BX.US) affiliates, and Coatue Management. Additionally, in June of this year, Firmus announced a strategic partnership agreement with NVIDIA Corporation aimed at providing more cost-effective high-performance computing resources for emerging AI companies. Under the agreement, Firmus will procure infrastructure from NVIDIA Corporation and sell cloud services based on NVIDIA Corporation's technology to clients such as "AI Native." In return, NVIDIA Corporation will receive a share of product revenue and part of the cloud services revenue. According to the agreement, from the first quarter of 2027 to early 2028, NVIDIA Corporation will deliver 170,000 graphics processing units (GPUs) to a facility located on Batam Island, Indonesia. Firmus expects, based on purchase commitments from existing clients, that this collaboration could generate revenues of up to $25 billion to $30 billion within the first six years.