Words from the news, explained in easy English. From: Firmus cancels planned Australian listing for AI data-centre business.
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- RechercheFirmus planned to use the money to build liquid-cooled AI data centers in Australia and across Asia. The company had two small operating sites, while its planned expansion included facilities that had not yet been built.
- BBC NewsNvidia-backed AI data centre firm scraps mega listing due to market volatility
- RechercheFirmus’s valuation had risen from less than 2 billion Australian dollars just over a year earlier to about 15 billion around eight weeks before the planned listing, before reaching almost 44 billion Australian dollars.
- RechercheA planned 104-megawatt Firmus data center in St Leonards, Tasmania, received fast-tracked approval from Launceston city council in September 2025 without a public hearing. The project drew opposition from local residents.