Urgent.News

What's breaking now, across thousands of outlets.

Finance & Markets

IPO: Nvidia-gestützter KI-Konzern sagt milliardenschweren Börsengang ab

Der Börsengang von Firmus wäre der zweitgrößte in der Geschichte Australiens gewesen. Trotz globalem KI-Boom fürchtet der Konzern Volatilität und schlechte Marktbedingungen.

IPO: Nvidia-gestützter KI-Konzern sagt milliardenschweren Börsengang ab

Sydney - The Australian data center operator Firmus, backed by chip giant Nvidia, has called off its planned $5 billion IPO. The company cited market volatility and conditions as the reason for the cancellation, announced on Friday. Investors in Firmus include Nvidia, Coatue Management, Blackstone, and Jane Street. Firmus provides AI infrastructure and cloud services, operating modular AI factories with the company's own energy and cooling technology.

Currently, the firm operates two centers in Melbourne and Singapore, with five more planned in the Asia-Pacific region. The IPO would have been the second-largest in Australia's history, but faced muted demand, signaling that investors are selective when it comes to AI-emitters, despite the AI boom driving global markets.

Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

Also reported by 1 other outlet

Read the original at handelsblatt.com →

More in Finance & Markets

Japan's August Current Account Surplus Exceeds 4 Trillion Yen, Up 12%

Japan recorded a current account surplus of 4.062 trillion yen in August, an increase of 12% from a year earlier, driven primarily by a sharp rise in income from overseas investments, even as higher…

  • Japan's August current account surplus exceeded 4 trillion yen, a 12% increase.
  • Higher overseas investment income drove the surplus growth.
  • Trade balance turned deficit due to rising crude oil prices.

More from Friday 9 October →