Report
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.
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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