Question 1

When does the Firmus IPO open and list?

Accepted Answer

Institutional bidding runs October 6 to 7, with a prospectus due October 8 and retail subscriptions open October 12 to 19, ahead of an ASX listing on October 22, according to a term sheet seen by Reuters.

Question 2

How big would the Firmus float be compared with other Australian IPOs?

Accepted Answer

At a reported valuation near $50 billion and a raise of $7 billion (US$5 billion), Firmus would be Australia's second-largest IPO, with only Telstra's 1997 float having raised more.

Question 3

Why is Firmus tied to Nvidia's circular-financing debate?

Accepted Answer

Nvidia is an investor, supplier and customer to companies like Firmus, which signed a US$30 billion Nvidia data-centre deal in June; critics say money Nvidia puts into such firms returns to it as chip revenue, a model Nvidia CFO Colette Kress addressed by saying "We know some will call this circular financing. We see it differently."

Firmus

Firmus scraps $5 billion IPO as investors scrutinize AI data center valuations

Nvidia-backed Firmus plans $7 billion ASX IPO, Australia’s second-largest

One sharp brief.
Every day.

Firmus

Firmus scraps $5 billion IPO as investors scrutinize AI data center valuations

Nvidia-backed Firmus plans $7 billion ASX IPO, Australia’s second-largest

One sharp brief.Every day.

One sharp brief.
Every day.