Datacentre company Firmus’s high flying valuation may be coming back down to earth ahead of expected ASX debut
Firmus Technologies is facing significant challenges ahead of its planned ASX debut, with reports suggesting the company may slash its $44 billion valuation or cancel the IPO entirely. Investors have become increasingly skeptical of the AI datacentre startup's high valuation despite its ongoing financial losses.
Why it matters
The potential failure of this IPO highlights growing investor caution regarding the sustainability of high-valuation AI startups.
Firmus’s plans to list on the ASX on 23 October, in what would have been the largest IPO since Telstra in 1997, are now in doubt. Photograph: PR IMAGE Firmus’s plans to list on the ASX on 23 October, in what would have been the largest IPO since Telstra in 1997, are now in doubt. Photograph: PR IMAGE Datacentres - Australia Analysis Datacentre company Firmus’s high flying valuation may be coming back down to earth ahead of expected ASX debut Jonathan Barrett Sources say Firmus is slashing its price and may even shelve initial public offering altogether
Get our breaking news email , free app or daily news podcast
The momentum behind Firmus Technologies’ high-flying valuation is showing severe cracks just weeks out from its anticipated ASX debut.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in