Datacentre company Firmus’s high flying valuation may be coming back down to earth ahead of expected ASX debut
The Guardian
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Firmus Technologies, an AI datacentre startup, is reportedly cutting its valuation from nearly $44bn ahead of its planned ASX IPO amid investor skepticism, with concerns over its operational scale and financial losses. The company has contracts with major AI players but most revenue depends on unbuilt sites, raising doubts about its valuation and IPO prospects.
- Firmus IPO Debacle Raises the Bar for Asia AI Deals in Pipeline· Bloomberg
- Firmus pulls biggest ASX float since Telstra amid investor doubt about datacentre company· The Guardian
- Nvidia-Backed Firmus IPO Collapses as AI Valuation Concerns Grow· Bloomberg
- Nvidia-Backed Firmus Said to Close Books as IPO Struggles· 3 sources
- Firmus Eyes $30 Billion Valuation in Australian IPO, AFR Reports· Bloomberg
