Firmus Grid pulls ASX listing at $30B valuation as Altman says now ill-advised to IPO
shashib · x · 2026-10-11
- Nvidia-backed compute firm Firmus Grid withdrew its ASX listing application on Oct 9 after failing to attract sufficient demand for terms targeting a $30B+ valuation and roughly $5B raise; it will pursue private-market capital.
- OpenAI has ruled out a 2026 listing, with Sam Altman telling Fortune that safety and alignment work make an IPO ill-advised right now.
- The post contrasts other compute players' paths: CoreWeave is public but volatile and highly leveraged; Vultr stayed private, self-funded for a decade before a Dec 2024 round led by LuminArx and AMD Ventures at a $3.5B valuation.
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