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The Guardian - AU
The Guardian - AU
National
Jonathan Barrett

From boom to bust in five days: how Firmus’s much-hyped Australian stock market listing imploded

Firmus United States Australia Stock Market ASX IPO
Firmus Technologies has sensationally withdrawn its ASX listing plans.
Firmus Technologies has sensationally withdrawn its ASX listing plans. Photograph: PR IMAGE

On Monday, it was going to be one of Australia’s biggest ever stock market listings, promising investors a stake in an AI-enhanced future of liquid-cooled datacentres packed with Nvidia microchips.

By Friday, Firmus Technologies had sensationally withdrawn its ASX listing plans after the promised demand for its much-hyped investor pitch went missing.

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