Firmus AI data centre IPO hit by valuation concerns ahead of listing
Summarised from 2 outlets · 5 reports · Updated 8 Oct, 09:55 · Archive
AI data centre operator Firmus faces investor scepticism over its planned ASX listing valuation.
Firmus, an AI data centre company owned by billionaire Oliver Curtis, is preparing for an ASX listing but encountering significant investor scepticism. The company is seeking a valuation reported variously as $43.1 billion or $7 billion, having never made a profit. Fund managers are questioning whether its ambitious artificial intelligence growth forecasts can justify the price, raising concerns about the company's valuation ahead of its planned October debut.
The company has faced a reported $1.3 billion valuation wipeout, suggesting its listing is facing headwinds. The former Bitcoin miner's proposed float appears to be struggling to gain traction amid these broader concerns about whether its financial projections support the asking price.
How it is being reported
- Firmus ASX float rocked by $1bn valuation cut, investors question massive ASX debutBillionaire Oliver Curtis’ AI data centre company Firmus is in turmoil, facing a $1.3bn valuation wipeout ahead of its ASX debut.Perth Now · 8 Oct, 09:41
- Firmus ASX float rocked by $1bn valuation cut, investors question massive ASX debutBillionaire Oliver Curtis’ AI data centre company Firmus is in turmoil, facing a $1.3bn valuation wipeout ahead of its ASX debut.The West Australian · 8 Oct, 09:41
- AI factory firm's $7b IPO looks doubtfulThe $7 billion ASX float of Bitcoin miner turned AI data centre operator Firmus is struggling to get off the ground amid concerns about its lofty valuation.Perth Now · 8 Oct, 06:32
- AI factory firm's $7b IPO looks doubtfulThe $7 billion ASX float of Bitcoin miner turned AI data centre operator Firmus is struggling to get off the ground amid concerns about its lofty valuation.The West Australian · 8 Oct, 06:32
- Firmus $43.1b ASX listing: Fund managers warn over AI data centre giant’s valuation ahead of October IPOFirmus is seeking a $43 billion valuation despite having never made a profit, prompting fund managers to question whether its ambitious AI growth forecasts can justify the price.The West Australian · 6 Oct, 23:14
In this story: Firmus · Oliver Curtis · ASX
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