Firmus, valued near $44bn, may shelve ASX IPO as investors balk
nordicinst · x · 2026-10-08
Australian AI datacentre company Firmus Technologies was set to list on the ASX on 23 October in what would have been the largest Australian IPO since Telstra in 1997, but the deal is now in doubt. Multiple sources say Firmus is slashing its near-$44bn valuation to entice sceptical investors — or may shelve the IPO entirely. The company, still in startup phase and losing hundreds of millions of dollars a year, abruptly withdrew from a parliamentary AI inquiry appearance as discussions to save the float continued.
Related event: Firmus's $44B-Valued ASX IPO at Risk Amid Doubts(2 posts)→
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