Australia-based Firmus has announced a multi-year agreement with OpenAI to provide computing capacity from two data centres in Malaysia, positioning the ChatGPT developer as a major customer as demand for AI infrastructure continues to grow.

The agreement comes as Firmus is reportedly considering an initial public offering this year, potentially becoming one of Australia’s largest listings in recent years.

Firmus was valued at more than $10.5 billion during its most recent funding round, which received backing from Nvidia, Jane Street, Blackstone funds and Coatue Management.

Following the OpenAI agreement, Firmus said its total contracted capacity across customers has risen above 900 megawatts. The company currently operates AI-focused data centres in Australia and Singapore, with five additional facilities under development across the Asia-Pacific region.

The partnership reflects intensifying competition among U.S. and Chinese AI companies to secure the electricity and data-centre infrastructure needed to support increasingly powerful AI models.

Malaysia has emerged as one of Southeast Asia’s fastest-growing data-centre markets, although the rapid expansion has raised concerns over the sector’s consumption of electricity and water.

Firmus also plans to deploy Nvidia’s next-generation Vera Rubin processors across its Asia-Pacific operations, with the Malaysian projects further expanding its regional presence.

The company did not disclose the financial value of its agreement with OpenAI. OpenAI had not immediately responded to requests for comment.