Demand for NVIDIA-backed Australian data-center operator FirmusGrid has collapsed, putting its planned $5.5bn IPO at risk of a price cut or cancellation. Insiders say investor appetite was insufficient at the AU$11-per-share offer; the company had ea

2026-10-08

Demand for NVIDIA-backed Australian data-center operator FirmusGrid has collapsed, putting its planned $5.5bn IPO at risk of a price cut or cancellation. Insiders say investor appetite was insufficient at the AU$11-per-share offer; the company had earlier reported preliminary indications far exceeding the deal and a potential $30bn valuation. Bookbuilding closed Thursday but FirmusGrid has not disclosed a final price or deal structure, flagging renewed fragmentation in AI-related financing.