An AI datacentre company facing investor skepticism is reportedly cutting its valuation sharply in a bid to regain confidence ahead of its planned stock market debut. Sources close to the situation suggest the company may even abandon its initial public offering entirely, signaling a dramatic shift in its financial strategy. The move comes as the firm’s once-strong market position appears to be weakening just weeks before its anticipated listing. Whether the valuation adjustment will be enough to secure investor backing remains unclear.
Sources say Firmus is slashing its price and may even shelve initial public offering altogetherGet our breaking news email, free app or daily news podcastThe momentum behind Firmus Technologies’ high-flying valuation is showing severe cracks just weeks out from its anticipated ASX debut.Multiple sources briefed on the matter told Guardian Australia the AI datacentre company is slashing its valuation to entice sceptical investors – or may even shelve its initial public offering altogether. Continue reading...
