AirTrunk Delays $1.5B IPO After Nvidia-Backed Firmus Exit - FourWeekMBA
AirTrunk Delays $1.5B IPO After Nvidia-Backed Firmus Exit - FourWeekMBA
摘要: AirTrunk Delays $1.5B IPO After Nvidia-Backed Firmus Exit
AI Business Brief
/ By
Gennaro Cuofano
/
October 13, 2026
AirTrunk, the Blackstone-bac
正文
AirTrunk Delays $1.5B IPO After Nvidia-Backed Firmus Exit
AI Business Brief
/ By
Gennaro Cuofano
/
October 13, 2026
AirTrunk, the Blackstone-backed data centre operator, is delaying its planned initial public offering in Singapore, according to a Wall Street Journal headline on 13 October 2026. Bloomberg reported the same day that the company is said to be delaying a $1.5 billion IPO. Both articles are paywalled, and we read only their headlines.
The reports came four days after Firmus, the Nvidia-backed builder of AI data centres, withdrew its application to list on the ASX, ABC News reported on 9 October 2026. Firmus cited recent market volatility and conditions.
Table of Contents
What Firmus Said
According to ABC News, Firmus said the offer would not appropriately reflect its long-term
prospects, and that it would pursue private market funding while considering other options. “We will provide additional information to shareholders as those options progress,” the company said in a statement.
ABC reported that the float was set to be the biggest on the Australian share market since Telstra in 1997. The company’s co-chief executives, Oliver Curtis and Tim Rosenfield, targeted a A$44 billion valuation, ABC said, at a sale
of A$11 a share, and the day before the withdrawal reports emerged that the
could be lowered to A$8.25.
Nvidia has a 7.2 per cent stake in Firmus, ABC reported. Firmus’s website lists seven AI factories across Australia, Singapore, Indonesia and Malaysia, two of them operational and five under development, according to the same report.
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Firmus expects to carry about US$30 billion of debt once its data centres are built, about six times the US$5 billion of operating earnings it forecasts for 2028, as ABC News reported on 9 October 2026.
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