The Nvidia-backed AI data centre operator is targeting a valuation of approximately A$43.7 billion in its IPO on the ASX, with an offer price of A$11 per share and a goal to raise up to A$7.1 billion. This would be the second-largest IPO in Australian history, behind only Telstra’s 1997 debut. Founded in 2019, the company expects a loss of A$77 million in the first half of its fiscal year but projects annual earnings of about US$5 billion within five years once its centres are fully operational. Its major clients include Meta and OpenAI, and its investors feature Nvidia, Blackstone, Coatue and Jane Street. Key risks include the substantial debt load of approximately A$30 billion, growth assumptions and customer concentration.
Source: Read the original article
