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BusinessQuiet 28h · day 6

Nvidia-Backed Firmus Postpones Mega IPO After Investor Demand Craters

Australia's Firmus Grid pulls back its $5.5 billion listing and weighs a private round instead, a fresh warning sign for AI infrastructure funding.

newest coverage 1d agosummary written 5d ago86 pieces45 likes & upvotes6 comments NewswiresMastodonGoogle NewsXYouTubeRedditHacker News

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What to know

  • Firmus Grid sought to raise $5.5B at an A$43.7B ($30.4B) valuation, which would have ranked among Australia's largest-ever IPOs.
  • Shares fell as much as 30% in Sydney, their biggest recorded decline, as investors worried about a post-listing shareholder overhang.
  • The company is now postponing the IPO and weighing a private funding round instead of listing publicly.
  • The episode follows SoftBank's SB Energy IPO delay weeks earlier and is being read as a broader warning sign for AI infrastructure fundraising.

“SB Energy is next and then it's all over”

ZeroHedge (Tyler Durden), Financial commentary outlet · ZeroHedge ↗ · Oct 7

Firmus Grid Ltd Australian data-center companyNvidia Investor and GPU supply partnerJun Bei Liu Portfolio manager, Ten CapBlackstone Investor

Nvidia-Backed Firmus Postpones Mega IPO After Investor Demand Craters
bbc.co.uk

How it unfolded 6 developments, newest first · click a bar or a number to jump articlesposts

Peak 18 pieces in two hours at Oct 8, 1 PM; 86 pieces over 6 days (59 articles · 2 videos · 24 posts · 1 comment) Oct 7, 7 PM — 3 pieces · 1 article · 2 posts — Mastodon 2, Newswires 1Oct 7, 9 PM — quietOct 7, 11 PM — 2 pieces · 2 articles — Newswires 2Oct 8, 1 AM — 1 piece · 1 article — Google News 1Oct 8, 3 AM — quietOct 8, 5 AM — 5 pieces · 4 articles · 1 post — Google News 3, Mastodon 1, Newswires 1Oct 8, 7 AM — quietOct 8, 9 AM — 5 pieces · 4 articles · 1 post — Newswires 4, Mastodon 1Oct 8, 11 AM — 4 pieces · 3 articles · 1 post — Newswires 3, Mastodon 1Oct 8, 1 PM — 18 pieces · 16 articles · 2 posts — Newswires 16, Mastodon 1, X 1Oct 8, 3 PM — 2 pieces · 1 article · 1 post — Mastodon 1, Newswires 1Oct 8, 5 PM — 3 pieces · 3 articles — Newswires 3Oct 8, 7 PM — 1 piece · 1 article — Newswires 1Oct 8, 9 PM — 10 pieces · 7 articles · 3 posts — Google News 4, Mastodon 3, Newswires 3Oct 8, 11 PM — 3 pieces · 2 articles · 1 post — Google News 1, Mastodon 1, Newswires 1Oct 9, 1 AM — 5 pieces · 5 articles — Newswires 5Oct 9, 3 AM — 3 pieces · 2 articles · 1 post — Newswires 2, Mastodon 1Oct 9, 5 AM — quietOct 9, 7 AM — 2 pieces · 2 articles — Newswires 2Oct 9, 9 AM — quietOct 9, 11 AM — 1 piece · 1 video — YouTube 1Oct 9, 1 PM — 2 pieces · 2 posts — Reddit 1, X 1Oct 9, 3 PM — quietOct 9, 5 PM — quietOct 9, 7 PM — 1 piece · 1 comment — Reddit 1Oct 9, 9 PM — quietOct 9, 11 PM — quietOct 10, 1 AM — 5 pieces · 3 articles · 2 posts — Newswires 3, Mastodon 1, Reddit 1Oct 10, 3 AM — 1 piece · 1 post — Mastodon 1Oct 10, 5 AM — quietOct 10, 7 AM — quietOct 10, 9 AM — quietOct 10, 11 AM — quietOct 10, 1 PM — 1 piece · 1 article — Newswires 1Oct 10, 3 PM — quietOct 10, 5 PM — quietOct 10, 7 PM — quietOct 10, 9 PM — quietOct 10, 11 PM — quietOct 11, 1 AM — quietOct 11, 3 AM — quietOct 11, 5 AM — quietOct 11, 7 AM — quietOct 11, 9 AM — quietOct 11, 11 AM — quietOct 11, 1 PM — 1 piece · 1 post — Hacker News 1Oct 11, 3 PM — quietOct 11, 5 PM — quietOct 11, 7 PM — quietOct 11, 9 PM — 1 piece · 1 post — Mastodon 1Oct 11, 11 PM — 1 piece · 1 article — Newswires 1Oct 12, 1 AM — quietOct 12, 3 AM — 1 piece · 1 post — Hacker News 1Oct 12, 5 AM — quietOct 12, 7 AM — 1 piece · 1 video — YouTube 1Oct 12, 9 AM — quietOct 12, 11 AM — quietOct 12, 1 PM — 1 piece · 1 post — Mastodon 1Oct 12, 3 PM — 1 piece · 1 post — Reddit 1Oct 12, 5 PM — quietOct 12, 7 PM — 1 piece · 1 post — Reddit 1Oct 12, 9 PM — quietOct 12, 11 PM — quietYesterday, 1 AM — quietYesterday, 3 AM — quietYesterday, 5 AM — quietYesterday, 7 AM — quietYesterday, 9 AM — quietYesterday, 11 AM — quietYesterday, 1 PM — quietYesterday, 3 PM — quietYesterday, 5 PM — quietYesterday, 7 PM — quietYesterday, 9 PM — quietYesterday, 11 PM — quiet 1–345–6
Oct 8Oct 9Oct 10Oct 11Oct 12yesterdaynow · 1:47 AM ET
  1. 6

    Firmus postpones IPO, weighs private funding round

    People familiar with the matter say Firmus is set to postpone its IPO outright and is instead weighing a private funding round, after some investors raised concerns over its pricing strategy.

    1. 14 outlets Nvidia-backed data center firm Firmus Grid to postpone Australia IPO - report

      first by Investing.com News, 5d ago · also TheEnergyMag, Finimize, The Straits Times, Bloomberg Law, Bloomberg, Seeking Alpha +7

      15 more headlines
    2. 2 outlets Nvidia-Backed Firmus Is Set to Postpone IPO, Weigh Private Round

      first by Bloomberg Tech, 5d ago · also Bloomberg

      1 more headline

    • NEWS: Australian AI data center operator Firmus, which is backed by Nvidia, has withdrawn its planned mega initial public offering, per CNBC

      @unusual_whalesX4d ago15▲view on X ↗
    2 more of the top 3 · 8 posts in this stretch
    • jwildeboer@social.wildeboer.net

      Just bad IPO marketing or sign of something bigger? You decide. "Nvidia-backed data centre firm scraps IPO as AI valuation concerns deepen [...] The decision by Firmus to scrap its stock market listing comes as investors and industry analysts have raised concerns about the hundreds of billions of dollars being poured into AI as the prospects for…

      jwildeboer@social.wildeboer.netMastodon3d ago13▲view on Mastodon ↗

    • Got to draw the line somewhere where they’ve paid debt to the community and can start over. Old mate did some insider trading likely pleaded guilty to get a shorter sentence. I’d say of all the crimes you can go to jail for insider trading is pretty much nothing.

      hashkentr/australia4d agoview on r/australia ↗
    all of them →
  2. 5

    Firmus slashes proposed IPO price by 25%

    ZeroHedge reports Firmus cut its IPO price by a quarter as the AI data-center listing window closes, drawing parallels to SoftBank's SB Energy IPO delay two weeks earlier.

    “slowly the data center dream is turning into a nightmare…”
    — ZeroHedge (Tyler Durden)
    1. 2 outlets Nvidia-Backed Firmus Grid IPO Reveals Investors' AI Jitters

      first by PYMNTS.com, 5d ago · also ZeroHedge

      1 more headline
  3. 4

    Bloomberg flags IPO as warning sign for AI funding boom

    Bloomberg reporting characterizes the sudden collapse in demand for the Nvidia-backed listing as revealing fresh cracks in the broader AI funding boom.

    1. 3 outlets Scrapped IPO of Nvidia-Backed Company Points to Limits of AI Boom

      first by Hindustan Times, 4d ago · also WSJ, WSJ Markets

    2. 3 outlets Nvidia-Backed IPO’s Cratering Demand Sends Warning on AI Funding

      first by Bloomberg.com, 5d ago · also Yahoo Finance, Bloomberg Tech

  4. 3

    Details emerge on pricing, overhang fears and share plunge

    Firmus was seeking $5.5 billion including a greenshoe at A$11/share (A$43.7B valuation); shares fell as much as 30% in Sydney as investors worried about an overhang from existing shareholders selling post-listing.

    1. 1 outlet Nvidia-backed Firmus closes IPO bookbuilding as investor support falter -Bloomberg

      first by Investing.com News, 6d ago

  5. 2

    Portfolio manager calls the IPO "unusually polarizing"

    Australian fund manager Jun Bei Liu of Ten Cap describes investor sentiment toward the listing as sharply divided ahead of pricing.

    “unusually polarizing…”
    — Jun Bei Liu
    1. 1 outlet Why Investors Are Skeptical Over Australian Data Center Company Firmus's IPO

      first by Bloomberg Tech, 6d ago

  6. 1

    Firmus closes IPO books amid investor jitters

    Australian data-center company Firmus Grid closed the books on its multibillion-dollar IPO as investors grew increasingly concerned the deal could be pulled.

    1. 6 outlets Nvidia-backed data center provider Firmus scraps $5bn Australian IPO

      first by Nikkei Asia, 5d ago · also Investing.com News, Channel News Asia, iTnews, Reuters, FT

      2 more headlines
    2. 1 outlet Nvidia-Backed Firmus Said to Close Books as IPO Struggles

      first by Bloomberg.com, 5d ago

    1 more claim →

Also covered reported alongside — the timeline has no entry for these yet

  1. 2 outlets Firmus: Nvidia-backed AI data centre firm scraps landmark listing over market fears

    first by BBC, 5d ago · also BBC Asia

    3 more headlines
  2. 2 outlets Firmus Misfire Casts Shadow on Data Center IPOs in the Pipeline

    first by Bloomberg Markets, 5d ago · also Bloomberg

and 5 smaller pieces

What people are saying 5 voices from 2 sites · best of 8 · verbatim