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 fragility in AI-related financing.
