The operator of Firmus Grid had previously attempted to save the debut by slashing its projected valuation 25% to $33B. Indicative bid prices for the shares fell from $11 down to $8 due to weak demand from overseas investors, prompting the company to close the order books before eventually shelving the IPO.
Wednesday, October 21, 2026
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Firmus Postpones Australia IPO Following 25% Valuation Cut
Startups12 days ago
The funding window for AI data centers is narrowing, as evidenced by a failed attempt to go public in the Asia Pacific region. Nvidia-backed Firmus is postponing its planned listing in Australia after sources told Bloomberg the company failed to attract adequate support from the market. This retreat highlights broader investor anxiety over the massive capital expenditures required to scale artificial intelligence infrastructure.
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