Nvidia-Backed AI Startup Targets $10 Billion Raise Ahead of Australian IPO

An artificial intelligence startup backed by Nvidia is seeking to raise US$10 billion ahead of a planned initial public offering in Australia, The Edge Malaysia reports.

The company, which counts the U.S. chip giant among its investors, is pursuing the capital before listing on the Australian Securities Exchange, according to the report. The US$10 billion target represents the funding the startup aims to secure in the run-up to its IPO.

Nvidia's involvement places the startup among a growing cohort of AI ventures that have attracted backing from the world's most valuable semiconductor company. Nvidia has invested across the AI ecosystem as demand for accelerated computing and graphics processors continues to drive capital into the sector.

The Edge Malaysia report did not name the startup, disclose its valuation, or specify a timeline for the Australian listing.

An Australian IPO would mark a notable choice of venue for an AI company of this scale. Most large AI funding rounds and public debuts in recent years have centred on U.S. markets, where investor appetite for the sector has been strongest. A listing in Australia would expose the startup to a different investor base and a market that has seen comparatively few major technology flotations.

The reported US$10 billion pre-IPO raise, if completed, would rank among the larger private funding efforts by an AI company backed by Nvidia. The move signals that significant private capital is still flowing into the sector ahead of public listings, even as investors scrutinize valuations across the technology industry.

Details on the deal structure, participating investors in the raise, and the timing of the IPO remain undisclosed. The company has not commented publicly beyond the reported plan.