Data Center Darling Firmus's $30B IPO Dream Crushed in 48 Hours | Hacker News Reader

Data Center Darling Firmus's $30B IPO Dream Crushed in 48 Hours

bloomberg.com

55 pointsmfiguiere16 comments

From an Australian super fund: https://www.abc.net.au/news/2026-10-09/firmus-float-gets-pul...

> "At the current valuation, it's priced to perfection. So much has to go right to justify the valuation.

> "Furthermore, we're quite concerned that Firmus will have to keep coming back to the market for a lot more debt and more equity to fund its expansion plans."

Glad to see risky bets getting flushed out before they reach index funds and regular people pay the price if it falls over.

There's more to this story than non-existent data centers.

The executive team is rather rotten, too. One of them, Oliver Curtis, having recently spent time in jail for insider trading.

Nvidia invested $500M in Firmus a few months ago. It is interesting to note how Nvidia is investing in every start up that deals with AI, data centers, etc in order to keep the train going.

They're looking at a likely $300+ billion in operating income over the next four quarters. $500m simply no longer matters. They'd be crazy not to spread that spigot of cash around. Their goal has to be to accelerate and spread the use of their GPUs for AI as far and wide as possible, build that up as much as possible before the music slows or stops. There isn't anything else to do with that much cash other than attempt to buy up the industry (they won't be allowed) or dump it back to shareholders (they don't want to).

In case you don't pay for Bloomberg: https://www.reuters.com/world/asia-pacific/australian-nvidia...

In case you don't pay for Reuters either: https://www.bbc.com/news/articles/ck9dzpw4ll8po

Archived: https://archive.ph/OQ4Tr

Just don't pay at all

Either pay or don’t but don’t steal.

Reading the news offered freely to robots is stealing,

putting malicious devices onto your neighbor’s private network a-ok.

Get real, dude.

> Reading the news offered freely to robots is stealing,

Keep telling yourself that if it makes you feel better.

Do you keep people from filling up a big water bottle with someone else’s water fountain, too?!

What a weak argument.

There is so much hate and denial about AI that the title is sufficiently mocking and brutal with satisfaction of failure.

There is so much money slushing around that you need to be careful about believing the boosters.

no need. facts speak for themselves. such as solving millenium problems and all math. but people can't grasp what it means, normies.

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