Financial Times reports NVIDIA-backed data-center operator Firmus has withdrawn its Sydney IPO filing that would have been Australia's second-largest listing. Firmus had sought $5bn at a $30bn valuation and said it pulled the application citing recent market volatility and current conditions. The withdrawal reflects investor caution over high AI-sector valuations.

2026-10-09

Financial Times reports NVIDIA-backed data-center operator Firmus has withdrawn its Sydney IPO filing that would have been Australia's second-largest listing. Firmus had sought $5bn at a $30bn valuation and said it pulled the application citing recent market volatility and current conditions. The withdrawal reflects investor caution over high AI-sector valuations.