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Cloud-computing company Firmus Grid scrapped plans to raise $5 billion in an Australian IPO after investors balked at its proposed $30 billion valuation. The company has two data centers operational and five more in development.
Nvidia-backed cloud-computing company Firmus Grid abandoned plans to raise $5 billion in Australia's largest IPO in nearly 30 years after investors balked at its proposed $30 billion valuation. The company said it will instead pursue further private investment.
Nvidia-backed cloud-computing company Firmus Grid withdrew its application to list on the Australian Securities Exchange and scrapped plans for an IPO it said would have raised almost US$5 billion. The company cited recent market volatility and prevailing market conditions.