United States · Business news · AI & Tech · 05 Oct 2026
AI: AI IPOs · Cloud and data centres · Chips and hardware · Nvidia — more AI news
Firmus Grid, an Australian AI data-centre operator backed by Nvidia and Blackstone, plans to allocate roughly half the shares in its initial public offering to existing shareholders, Investing.com reported, citing Bloomberg. The company is seeking up to A$5.5 billion ($3.8 billion) including the greenshoe at A$11 a share, which implies a value of A$43.7 billion ($30.3 billion). Indications of demand ran well above the offer and the book's deadline was moved up by a day to Thursday.
At up to A$5.5 billion the sale would exceed Medibank's 2014 float of just under A$5 billion, among the largest Australian listings. The money goes to GPU infrastructure for Firmus's first data centre in Batam, Indonesia, so much of it flows on to chip suppliers, Nvidia first among them, which is both a shareholder and a vendor. Giving existing holders half the book lets Nvidia and Blackstone add to their stakes and leaves less stock for new investors. For US-listed GPU cloud companies the A$43.7 billion valuation is a fresh public-market reference.
Reported by Investing.com — “Firmus plans to allocate half of IPO shares to existing holders, Bloomberg reports” ↗ on 05 Oct 2026.
Official series on 05 Oct 2026 or the last day before it, and the latest observation.
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