Nvidia-backed data center provider Firmus scraps $5bn Australian IPO - Nikkei Asia
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CANBERRA -- Australian AI-focused data center developer Firmus has pulled the plug on its Sydney IPO amid criticism that the company became "greedy" and pursued a "mind-boggling" valuation.
CANBERRA -- Australian AI-focused data center developer Firmus has pulled the plug on its Sydney IPO amid criticism that the company became "greedy" and pursued a "mind-boggling" valuation.
The company, which counts chip giant Nvidia as a backer, announced on Friday it had decided to withdraw its application to list on the Australian Securities Exchange, citing "recent market volatility and prevailing market conditions".
"The Board determined that the terms on which the Offer could proceed would not appropriately reflect the strength of the Company's business and long-term growth outlook," it said in a statement.
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