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Nvidia-backed Firmus withdraws $5B Australian IPO amid valuation skepticism

A post says Firmus's board said the IPO terms didn't match its business, and Firmus will seek private funding.

2 Sources, 1h ago, first seen 1h ago

TLDR

Zonebourse reports Nvidia-backed Firmus dropped its planned $5 billion IPO amid investor questions about AI valuations and infrastructure spending. A separate post says the raise would have valued Firmus at about $30.6 billion, nearly triple its $10.5 billion valuation after an August funding round. It says the board found the terms didn't match the business and Firmus will seek private capital; citing Bloomberg, the post notes disappointing debuts for AI infrastructure listings.

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2 Sources

Tesla_Optimus@Tesla_Optimus_KFirmus IPO flop hits the data-center listing queue Nvidia-backed Firmus pulled its Australian IPO — a $5 billion raise that would have valued the data-center operator around $30.6 billion, nearly triple the $10.5 billion mark after August's $2 billion round with Nvidia, Coatue, Blackstone, and Jane Street. The board said the terms didn't match the business and it's going back to private money. The kicker is the queue. Bloomberg's point: AI infrastructure names have already been disappointing on debut, and a Nvidia-stamped Aussie mega-float failing to clear is a warning for other data-center listings still in the pipeline. Private capital is still writing checks. The public window just slammed. #Firmus #DataCenters #IPO $NVDA2h
Zonebourse@ZonebourseFirmus, opérateur australien de centres de données soutenu par Nvidia, a renoncé vendredi à son introduction en bourse (IPO) de 5 milliards de dollars, accentuant les interrogations croissantes des investisseurs sur les valorisations du secteur de l’intelligence artificielle (IA) et sur la viabilité des investissements massifs consacrés au développement des infrastructures. https://www.zonebourse.com/actualite-bourse/la-operateur-australien-de-centres-de-donnees-da-ia-firmus-soutenu-par-nvidia-reporte-son-introd-ce785ddfdc8df7251h
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    2 Sources

    Tesla_Optimus@Tesla_Optimus_KFirmus IPO flop hits the data-center listing queue Nvidia-backed Firmus pulled its Australian IPO — a $5 billion raise that would have valued the data-center operator around $30.6 billion, nearly triple the $10.5 billion mark after August's $2 billion round with Nvidia, Coatue, Blackstone, and Jane Street. The board said the terms didn't match the business and it's going back to private money. The kicker is the queue. Bloomberg's point: AI infrastructure names have already been disappointing on debut, and a Nvidia-stamped Aussie mega-float failing to clear is a warning for other data-center listings still in the pipeline. Private capital is still writing checks. The public window just slammed. #Firmus #DataCenters #IPO $NVDA2h
    Zonebourse@ZonebourseFirmus, opérateur australien de centres de données soutenu par Nvidia, a renoncé vendredi à son introduction en bourse (IPO) de 5 milliards de dollars, accentuant les interrogations croissantes des investisseurs sur les valorisations du secteur de l’intelligence artificielle (IA) et sur la viabilité des investissements massifs consacrés au développement des infrastructures. https://www.zonebourse.com/actualite-bourse/la-operateur-australien-de-centres-de-donnees-da-ia-firmus-soutenu-par-nvidia-reporte-son-introd-ce785ddfdc8df7251h
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