Firmus Closes Books on $5.5B Australian IPO as Nvidia-Backed Deal Fails to Clear A$11 Marketing Price

Nvidia-backed Firmus Grid closed the books on its planned $5.5B Australian IPO on Thursday morning after the deal failed to attract adequate demand at the marketed A$11 share price, with investors flagging aggressive valuation for a two-data-center operator and a ~58% free float that could flood the first-day tape. The stumble is a public stress test for AI-infrastructure listings — shares of Firmus backer Maas Group plunged as much as 30% in Sydney, and the signal lands as Blackstone syndicates a $60B Broadcom-Anthropic chip debt package.