Firmus, an Australian operator of AI data centres that counts Nvidia among its backers, has shelved its planned initial public offering, according to wire reports reviewed by FXMARE. The company, which is also referred to in coverage as Firmus Grid, is understood to be postponing the Australian listing rather than abandoning its plans outright.
The reporting indicates that bookbuilding for the Firmus offering has closed, and that the decision followed signs of weakening support among investors. The sources do not provide details such as the intended raise, the price range or a new timetable, so those points remain unclear.
The delay stands out because of the sector involved. Firmus builds and runs infrastructure for artificial intelligence workloads, an area closely tied to Nvidia's chips, and its backing by the chipmaker had been a notable feature of the offering. Even so, the coverage describes investor demand as insufficient to proceed on the original schedule.
Separately, another company with Nvidia's backing is moving in the opposite direction. Iambic Therapeutics, a biotechnology business, has launched its own IPO in the United States. Headlines on the launch say it is seeking a valuation above $800M, and they frame the move as notable because biotech issuers are coming to market despite a gloomy backdrop for equity markets.
Taken together, the two items show uneven conditions for new listings that carry the same high-profile investor. One offering has been pushed back after demand faltered, while the other has gone ahead in a different market and sector. The supplied material does not explain the reasons for the difference beyond what is described above, nor does it give pricing or share-count terms for the Iambic deal.
Further details on the Firmus timetable and on how the Iambic offering is received have not been reported in the material reviewed by FXMARE.