StocksMediumUpdated•Originally published 9 October 2026•Updated 9 October 2026•
1 min read
Nvidia-backed Firmus Scraps IPO Plans Citing Market Volatility
Key Facts
1AI data center firm Firmus has scrapped its landmark listing plans due to recent market volatility.
Australian AI data center firm Firmus Grid has scrapped its landmark listing plans due to recent market volatility. According to the BBC, the company, which receives backing from Nvidia NVDA, had sought a $30 billion valuation despite having only two operational data centers before officially withdrawing its initial public offering process.
The cancellation occurs amid a period of price adjustments for major semiconductor and AI-related firms. NVDA closed at $230.48 on October 8, 2026. On the same day, peer instruments also reflected the broader market environment, with AMD closing at $620.68, TSM finishing at $457.99, and INTC ending the session at $107.08.