AI data centre provider could become one of Australia's biggest stock floats
AI data centre developer Firmus Technologies is seeking financial backers ahead of a multi-billion-dollar share market float next month, with one expert saying "mum and dad investors" are likely targets.
AI data centre provider Firmus Technologies is set to embark on an ambitious expansion plan, potentially becoming one of Australia's largest stock floats. The company aims to raise up to $7 billion in an initial public offering (IPO) next month, which could value the firm at over $50 billion, making it the second-largest float in Australian history, following Telstra's $14 billion IPO decades ago.
Firmus plans to operate seven AI data centres across Australia, Singapore, Indonesia, and Malaysia within 24 months. The expansion initiative has generated community concerns and attracted attention from OpenAI, with whom Firmus has secured a multi-year deal for two new AI factory sites in Malaysia.
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