Firmus, a data centre operator backed by Nvidia, shelved its $8 billion initial public offering, citing market volatility and conditions, and said it would opt for a private fundraising round instead.
Firmus’ IPO would have been the second-largest new share sale in Australia’s history but met lukewarm demand, a warning sign that investors remain selective about AI issuers even as the artificial intelligence boom drives global markets.
“Firmus will now …
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