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Nvidia-Backed Firmus Scraps $5 Billion IPO as AI Valuation Fears Grow
GuruFocus ·
GuruFocus reports: Nvidia Corp. (NVDA, Financials), a leader in AI chips, backs Australian data center operator Firmus. It's one of the clearest evidence yet that investors are getting pickier about the AI infrastructure boom. Firmus on Friday abandoned a planned $5 billion Australian initial public offering as demand dropped amid valuation, debt and execution risk concerns. The business had pitched shares at A$11 apiece, which represents a $30.6 billion equity valuation. That was almost…