Firmus Grid

Firmus Grid, a Sydney-based AI cloud company backed by Nvidia, pulled its planned IPO, which would have been Australia's biggest in almost 30 years. It had aimed to raise nearly $5 billion at a valuation above $30 billion, cited market volatility, and said it will seek private funding instead. Investors doubted the valuation, which was nearly triple its August funding-round price, though the company runs just two data centers.