Business · 1 hour ago
Nvidia-Backed Firmus Scraps Australian IPO
Photo by Mariia Berezovsky on Unsplash
Nvidia-backed AI data-centre firm Firmus has scrapped plans for what would have been one of Australia's biggest stock-market listings, citing market volatility. The company had sought a valuation above 30 billion dollars and will now chase private capital instead. Major pension fund UniSuper said the story was compelling but the price was not, reflecting wider investor doubts about richly valued AI infrastructure deals this year.
Reported by BBC News · How we write briefs