Nvidia-backed Firmus drops planned $5 billion Australian listing

First reported by Bloomberg at · Updated · 9 sources

The Australian data center operator blamed market volatility and prevailing conditions for abandoning its listing plans. Firmus had sought a valuation above $30 billion, while investor demand weakened. According to The Information, the offering would have been Australia's largest initial public offering in almost 30 years.

  • Firmus had only two operational data centers, according to The Wall Street Journal.
  • The company had lowered its initial share price, according to Data Center Dynamics.

Covered by 9 publishers within 32 hours of the first report.

Reporting9

Bloomberg Why Investors Are Skeptical Over Australian Data Center Company Firmus's IPO
PYMNTS Nvidia-Backed Firmus Grid IPO Reveals Investors’ AI Jitters · PYMNTS
CNBC Nvidia-backed Aussie AI firm Firmus withdraws historic IPO, citing market volatility
Financial Times Nvidia-backed data centre operator pulls $5bn IPO
BBC Nvidia-backed data centre firm scraps IPO as AI valuation concerns deepen
The Information Nvidia-Backed Firmus Scraps $5 Billion Australia IPO as Markets Wobble · Qianer Liu
Wall Street Journal Scrapped IPO of Nvidia-Backed Company Points to Limits of AI Boom · Stuart Condie
Data Center Dynamics Neocloud Firmus cancels IPO, blames market volatility
Quartz Firmus is exploring raising up to $3 billion privately after pulling its Australian IPO · Cris Tolomia

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Topics NvidiaData centers