AUSTRALIA'S BIGGEST AI IPO IN DECADES COLLAPSES

Firmus, the Nvidia-backed ($NVDA) data center operator, scrapped its planned $8 billion Sydney listing this week after local fund managers balked at an $11 share price that valued the company at $44 billion. The deal would have been Australia's biggest IPO in decades. Instead, confidence evaporated and Firmus is now chasing private capital instead of public markets.