Nvidia Reportedly in Talks to Invest in Firmus After $5B IPO Is Shelved

Nvidia is in talks to invest hundreds of millions of dollars in Firmus Grid, the Australian AI cloud and data-center operator whose IPO collapsed this month, according to a report by The Information that Bloomberg relayed on 21 October 2026. Nvidia did not immediately respond to Bloomberg's request for comment, and no terms have been announced.

Firmus shelved its roughly $5 billion Australian listing on 9 October, Reuters reported. The offer was priced at A$11 per share, which implied an equity value of $30.6 billion, nearly triple the $10.5 billion valuation of an early-August funding round. Reuters said investors began pulling orders the day after the launch, citing concern about Firmus's debt of about $30 billion and its lack of a track record building AI data centers, as well as escrow terms that would have let existing holders sell more than half their stock on day one.

The data-center angle is the build-out behind the numbers. Firmus designs and operates modular AI factories and currently runs two leased data centers, in Melbourne and Singapore, with five more planned across Asia-Pacific, according to Reuters. Reuters also reported that the chief executive of CDC Data Centres said a planned 1.6 GW of AI factories with Firmus was no longer underway, a point that weighed on the listing. In its letter to shareholders, Firmus said it would pursue capital from private markets and consider international listing options; Bloomberg reported it is exploring raising up to $3 billion from existing investors.