Australia’s biggest IPO in 30 years is cancelled amid AI jitters (opens the source in a new tab)
- Data-centre firm Firmus cancelled a planned raise of almost $5bn, which would have been Australia’s largest IPO Initial public offering: when a company first sells its shares on a stock exchange. in 30 years, citing market volatility. It plans a private raise and a US listing next year.
- Airtrunk and SoftBank’s SB Energy have also delayed, and timing for the Anthropic and OpenAI listings is uncertain. Rising rates, jumpy markets and local backlash to data centres are blamed.
- Nscale still hopes to list within weeks.
- $5bn
- Firmus raise cancelled
Why it matters AI infrastructure needs cheap, plentiful capital. If listings stall, unproven builders feel it first, and that links back to the IMF’s warning about leverage behind the boom.
Watch next Whether Nscale lists on schedule, and whether Anthropic’s investor day restores confidence.