# Nvidia-backed Firmus pulls historic Australian IPO

> Australian AI data center operator Firmus withdraws its planned five billion dollar IPO, citing market volatility and unfavorable terms.
- Title: Nvidia-backed Firmus pulls historic Australian IPO · CNBC
- Summary: Australian AI data center operator Firmus withdraws its planned five billion dollar IPO, citing market volatility and unfavorable terms. Firmus, an…
- Keywords: firmus, nvidia, ipo, australia, ai data centers, market volatility, business, finance, Nvidia-backed, pulls, historic, Australian
- Source: CNBC — https://cnbc.com/2026/10/09/nvidia-ai-firmus-ipo-.html
- Author: Jenny Lee
- Published: 2026-10-09T01:02:38+00:00
- Read time: 1 min
- Topics: firmus, nvidia, ipo, australia, ai data centers, market volatility, business, finance
## Firmus pulls five billion dollar IPO
Australian AI data center operator Firmus, backed by Nvidia, has withdrawn its planned initial public offering, citing market volatility and unfavorable conditions for the share sale.
## Board says terms did not reflect strength
Firmus's board determined that the proposed offering terms did not adequately reflect the strength of its business and long-term growth outlook, so proceeding was not in shareholders' best interests.

> The board therefore concluded that proceeding with the offer was not in the best interests of the company and its shareholders.
## Firmus seeks private funding instead
The company had reportedly sought to raise five billion dollars at eleven Australian dollars per share, valuing it at about thirty point six billion dollars.

> Firmus will now pursue capital from the private markets and consider alternative public and private market options.
## Key takeaway

Firmus, an Nvidia-backed Australian AI firm, withdrew its planned five billion dollar IPO, saying market conditions did not reflect its business strength and will pursue private funding instead.