Amid market volatility, Nvidia-backed Firmus withdraws major IPO

智通财经2026/10/09 06:36

Show original

(1) Firmus, an Australian AI data center operator backed by Nvidia, has withdrawn its planned major initial public offering (IPO) due to market volatility and conditions, according to a statement the company sent to CNBC. (2) Firmus stated that its board determined the proposed offering terms did not adequately reflect its business strength and long-term growth prospects. (3) The statement said, "Therefore, the board has concluded that proceeding with this offering is not in the best interests of the company and its shareholders." Firmus added that it will now seek capital from the private market and consider other public and private market options. (4) Reportedly, Firmus had planned to raise 5 billions USD in the IPO, pricing shares at 11 AUD each, which would have made it the second-largest new share issue in Australian history. The IPO valued the company at approximately 30.6 billions USD. (5) In August, the company announced a 2 billions USD financing round, backed by Nvidia, Coatue Management, Blackstone, and Jane Street, bringing its total equity raised in the past year to over 3 billions USD, with a valuation exceeding 10.5 billions USD. (6) Last month, Firmus also announced an agreement with Meta to provide GPU computing power in its Southeast Asian AI data centers. These centers are built on Nvidia's DSX platform to support Meta's AI research, model development, and training.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.