Nvidia-Backed Firmus Halts $5 Billion IPO Amid Valuation Concerns and AI Market Doubts

10/09/2026

Nvidia backed Australian AI data centre operator Firmus has shelved its planned $5 billion initial public offering (IPO), as investors raised concerns about its valuation, mounting debt and...

10/09/2026

Nvidia-backed Australian AI infrastructure startup Firmus has abruptly canceled its planned $5 billion initial public offering, just days after signaling strong investor demand for what would have...

10/09/2026

Firmus said it had made the decision due to "recent market volatility and prevailing market conditions".

10/09/2026

Australian cloud-computing firm Firmus Grid had sought a $30 billion valuation despite having only two operational data centers.

10/09/2026

The abandoned float has left the ASX without a landmark listing for 2026, but investors are divided on whether that’s a bad thing.