This period, coverage of Australia shifted from the macroeconomy to capital markets. On October 9, Firmus, a data center operator backed by Nvidia, scrapped its planned A$5 billion IPO on the Australian Securities Exchange due to weak investor demand and concerns over AI valuations. The decision was reported by Reuters, Bloomberg, BBC, and the Financial Times, with The Guardian describing it as a rapid boom-to-bust reversal in five days. The collapse highlights growing investor skepticism toward AI infrastructure companies despite the broader AI investment frenzy.
- Firmus, an Australian data center operator backed by Nvidia, scrapped its A$5 billion IPO on the ASX due to weak investor demand and AI valuation concerns.
- The decision was reported by Reuters, Bloomberg, BBC, and the Financial Times, with The Guardian calling it a rapid boom-to-bust reversal in five days.
- The failed IPO highlights growing investor skepticism toward AI infrastructure companies despite the broader AI investment frenzy.












