GoKawiilNvidia-backed Firmus pulls planned $30bn Australian stock market listing
Firmus, an AI data centre operator backed by Nvidia, Blackstone and Jane Street, has abandoned plans for a stock market debut that would have valued it above $30bn, citing market volatility and investor interest. The company said it will instead seek funding through private markets while weighing other public and private options. The withdrawal follows UniSuper and other institutional investors declining to join the IPO over valuation concerns.
GoKawiil's interpretation of the reporting above, not reported fact.
UniSuper's chief investment officer John Pearce said the company's valuation, not its business story, was the sticking point, and raised concern about further debt needed to fund growth — a view that suggests investors are growing wary of lofty AI infrastructure valuations. The pullback could signal broader caution among institutional investors about the sustainability of AI-driven returns, even as capital continues flowing into data centre building for clients like OpenAI and Meta. It also raises questions about whether the Australian exchange can attract major tech listings given this setback.
- Firmus scrapped a planned IPO that had valued it at over $30bn, citing market volatility.
- UniSuper and other investors reportedly avoided the offering over valuation and debt concerns.
- Firmus will pursue private market funding and consider alternative paths to going public later.
Source: bbc.co.uk — Watch Our Pick Of Standout Clips Across The Bbc, 2026-10-09
Published there as: “Nvidia-backed AI data centre firm scraps mega stock market listing”
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