Nvidia-Backed Firmus Is Set to Postpone IPO, Weigh Private Round - Bloomberg.com — SkimNews
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- Firmus scrapped its Australian IPO and is weighing a private funding round, per Bloomberg, after cratering demand for the listing.
- Firmus was reportedly targeting a $5 billion raise, and Reuters reports a Firmus investor's stock fell on news the deal could be cut.
Why it matters: Firmus was targeting a $5 billion raise; pulling the Australian IPO to pursue private capital shows even Nvidia-backed AI infrastructure plays cannot attract public-investor demand at expected valuations, with a Firmus investor's stock already falling on the news.
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