Financenews.com.au

Aus firm set to be bigger than Coles, Woolies

Australian AI infrastructure company Firmus Technologies is planning an ASX float that could value it at $50 billion, more than Woolworths and Coles combined.

Australia is on the brink of its very own SpaceX moment that could significantly change the nation’s global standing as the AI revolution picks up pace.

The Long Sip
What happened

Homegrown AI infrastructure firm Firmus Technologies is preparing for what could be the largest ASX float on record, targeting an October listing.

The detail

Nvidia holds a 7.2 per cent stake and Blackstone has provided a $7 billion loan facility, with the company potentially valued at $50 billion.

What it means

Everyday investors are lining up for a slice of a company that started as a bitcoin miner and now builds specialised AI computing facilities in regional NSW.

For you

Mum-and-dad investors are expected to be able to buy in when the IPO goes live in October, so it may be worth watching if you invest through a broker or super fund.

Full story at news.com.au

What readers are saying

philip_chatswood
The HyperCube platform is manufactured and prefabricated in regional NSW. That vertical integration from hardware through to the physical buildings is what allows them to regulate power usage in real time like a massive battery and cut energy consumption so sharply.
graeme1955
Nvidia stake and OpenAI contract. This is serious.
Bert
From bitcoin mining to a potential 50 billion dollar valuation in under a decade.
RetiredEmma
A cryptocurrency background to a trillion dollar AI infrastructure giant is certainly quite the evolution.

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