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Nvidia-Backed Firmus IPO Hits a Wall as Investors Balk at $30 Billion Valuation
GuruFocus ·
GuruFocus reports: Nvidia Corp. (NVDA, Financials), the AI chipmaker and an existing Firmus Technologies shareholder, is getting another look at how investor enthusiasm for AI infrastructure can collide with valuation concerns. Firmus, an Australian firm, is said to have completed bookbuilding for an IPO that aims to raise $5.5 billion at A$11 a share. The offer would value the high-performance computing and AI infrastructure firm at around A$43.7 billion ($30.4 billion). Demand originally…