TREE NEWS reports: Nvidia-backed data-center operator Firmus Grid Ltd. shelved an IPO that would have raised as much as $5.5 billion last week, after investors balked at a valuation that had climbed to $30 billion. The Australian company is now pursuing private funding from existing investors. Asia-Pacific equity capital markets have raised nearly $250 billion so far this year through IPOs, share placements and block trades, versus about $260 billion in all of 2025.
Firmus Shelves $5.5B IPO as AI Infrastructure Deals Face Investor Scrutiny
AI take
The pullback says less about Firmus than about the pricing power of AI-infrastructure issuers: a sponsor-backed name with an Nvidia association still could not clear a $30 billion mark in public markets, and the pivot to existing backers keeps the asset off the screen rather than repricing it. That matters for the pipeline of similar APAC listings, where record ECM volumes have been leaning on data-center and compute themes. Whether private capital keeps absorbing these valuations, or whether public investors' pushback spreads to the next AI-linked deal, is the open question.
Generated by AI for reference only.
Share on WeChat
Open WeChat → Scan → then tap "…" to send to a chat or Moments.
Tap "…" in the top-right corner to send to a chat or share to Moments.
Related News
1m ago
Wang Yi Meets Putin Aide Patrushev in Beijing
3m ago
SoftBank-backed OPay Plans New York Listing, Seeking Up to $500M
7m ago
Google Launches Fitbit Edge Fitness Tracker at $180
9m ago
Congo Central Bank to Raise Gold Reserves from 3 Tonnes to 5 Tonnes by Year-End
11m ago
China, Vietnam Legislatures Hold Second Joint Committee Meeting in Beijing
16m ago
US sector ETFs open mixed: energy up 1.5%, semiconductors down 1.65%