From prison to billionaire data centre operator, the incredible story of Oliver Curtis
He went to prison for insider trading but Oliver Curtis is about to be the source of one of Australia's largest share market floats.
Oliver Curtis, once a corporate pariah sentenced to two years in prison for insider trading, will soon emerge as a billionaire. After serving a year in a relatively low-key facility in Cooma, Curtis will be the driving force behind Firmus, Australia's second-biggest stock market listing. The data centre builder and operator expects to raise $7.2 billion in new capital, valuing the Singapore-based firm at $43.7 billion.
Firmus, which boasts powerful backers like Blackstone and Nvidia, will specialise in AI-neocloud technology, using significantly less water and boasting the lowest operating costs in the industry. Despite facing opposition from governments and community concerns, Firmus aims to profit from AI customers like Meta and OpenAI, while generating annual earnings of $5 billion.
However, the company currently operates at a loss and faces financial risks due to interdependence and circular financing within the industry.
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