AI data center company Firmus, backed by Nvidia (NVDA.US), cancels IPO amid doubts over its $30 billion valuation and insufficient demand from U.S. investors

智通财经2026/10/09 15:31

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According to Zhihui Finance APP, Firmus Grid, an Australian artificial intelligence (AI) data center operator backed by Nvidia (NVDA.US), originally planned to go public with a valuation of around 30 billions USD, which would have made it one of Australia's largest initial public offerings (IPO). However, due to overvaluation, insufficient investor subscription demand, and concerns in the market regarding the massive financing needs of AI infrastructure, this high-profile IPO was ultimately canceled on Friday.

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According to Zhihu Finance APP, Australia’s AI data center operator Firmus Grid, backed by Nvidia (NVDA.US), originally planned to go public with an estimated valuation of around 30 billion USD, which could have ranked among the largest initial public offerings (IPOs) in Australia. However, due to an excessively high valuation, insufficient investor subscription demand, and concerns in the market over the massive financing needs for AI infrastructure, this much-anticipated listing plan was ultimately canceled on Friday.

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