Sources detail how Firmus' IPO collapsed in 48 hours after US fund managers deemed its $30B valuation too rich for a company with just $51M in FY 2026 revenue (Bloomberg)
Firmus could not sell public investors on a $30 billion price against $51 million in revenue.
The Bloomberg item says the Nvidia-backed company’s IPO fell apart within 48 hours after U.S. fund managers balked at the valuation. Techmeme’s note says Firmus abandoned the offering and will pursue a private funding round instead. The collapse is framed as a sharp test of investor appetite for AI data-center names without a proven revenue base. Techmeme's note
The Bloomberg item says the Nvidia-backed company’s IPO fell apart within 48 hours after U.S. fund managers balked at the valuation. Techmeme’s note says Firmus abandoned the offering and will pursue a private funding round instead. The collapse is framed as a sharp test of investor appetite for AI data-center names without a proven revenue base. Techmeme's note
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