GoKawiilNvidia-backed Firmus pulls planned $5 billion Australian IPO
Firmus, the Nvidia-backed Australian AI data center operator, has withdrawn its planned initial public offering, which would have raised about $5 billion and ranked as Australia's second-largest share sale ever. The company said market volatility and unfavorable offer terms led its board to scrap the listing, and it will instead seek funding through private markets while weighing other public or private options.
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The withdrawal suggests investor appetite for AI infrastructure bets may be cooling or that Firmus judged public markets were undervaluing its roughly $30 billion valuation. It also underscores how reliant fast-growing AI data center firms remain on private capital from backers like Nvidia, Blackstone and Coatue even as they eye eventual public listings.
- Firmus scrapped a planned $5 billion IPO that would have valued it near $30.6 billion.
- The company cited market volatility and said the offer terms undervalued its growth prospects.
- Firmus will pursue private market funding instead, having already raised over $3 billion with Nvidia and other backers.
Source: cnbc.com — Jenny Lee, 2026-10-09
Published there as: “Nvidia-backed Aussie AI firm Firmus withdraws historic IPO, citing market volatility”
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