Nvidia-backed startup's $30-bn IPO plan crushed by its own investors in 48 hrs

Nvidia-backed AI data centre startup Firmus Grid scrapped its planned $5 billion IPO in Australia after its investors rejected its proposed $30.6 billion valuation. Investors raised concerns about its valuation, mounting debt and ambitious expansion plans. The deal collapsed within 48 hours, turning an anticipated blockbuster listing into one of the biggest IPO failures in recent memory.