Firmus cancels planned $5 billion IPO due to market conditions
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Firmus, Nvidia
Australia
October 8, 2026
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COMPAMIR Editorial Team
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Read our editorial policy- Earlier version 110/9/2026, 7:40:50 AM
Nvidia-backed Firmus has withdrawn its planned $5 billion IPO. The board cited market volatility and inadequate valuation as reasons for the cancellation. The company will seek alternative capital from private markets.
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Firmus Technologies cancels ASX IPO
AI infrastructure firm Firmus Technologies has pulled its planned IPO on the Australian Stock Exchange. The decision follows market volatility and concerns over bond yields affecting the AI/data centre sector. The IPO was intended to raise US$5.5 billion.