Nvidia-backed Australian data center operator Firmus has postponed its 7 billion Australian dollar IPO due to insufficient investor demand. The company had priced its offering at 11 Australian dollars per share, targeting a valuation of nearly 30 billion Australian dollars. Foreign investor interest reportedly waned during the process, leading to the abandonment of the listing. Shares of Maas Group Holdings, a backer of the company, dropped 30%. Founded in 2019, Firmus counts Meta and OpenAI among its clients and raised 2 billion dollars in August 2026.
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