Firmus Technologies, an Australian company that builds AI infrastructure such as data centers and related systems, is seeking to raise up to US$5 billion in an initial public offering, according to people familiar with the matter.

The company has begun investor meetings in Asia and plans to visit Europe and the US before holding meetings in Australia.

It could list on the Australian Securities Exchange as early as late October, although the size and timing could still change.

Firmus describes itself as an AI infrastructure provider. Last month, it raised US$2 billion in equity, taking its post-money valuation to above US$10.5 billion. That funding round included Nvidia, Coatue Management, Blackstone funds, and Jane Street.

At that size, the IPO would be Australia’s second-largest on record, behind Telstra’s 1997 float.

🔗 Source: Reuters

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