Nvidia · Crypto Briefing
Firmus shelves multibillion-dollar Australian IPO as investor demand falls short
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The NVIDIA-backed AI data center operator is turning to private markets after its planned ASX float failed to draw enough buyers.
Key facts
- In April 2026, Firmus raised $505 million at a post-money valuation of $5.5 billion
- Firmus priced its shares at A$11 each, a level that implied an equity value of approximately A$43.7 billion, or around US$30 billion
- The NVIDIA-backed AI data center operator shelved its planned initial public offering around October 8-9, 2026, after failing to line up enough investor demand
- Four months later, in August 2026, it brought in another $2 billion
Summary
Firmus Grid Ltd. was set to stage one of the biggest stock market debuts Australia has seen in decades. The NVIDIA-backed AI data center operator shelved its planned initial public offering around October 8-9, 2026, after failing to line up enough investor demand. Firmus priced its shares at A$11 each, a level that implied an equity value of approximately A$43.7 billion, or around US$30 billion. Shares were expected to begin trading on the Australian Securities Exchange around October 23, 2026.