Billions of dollars in commitments to buy AI chips by Firmus are in doubt as a result of the Australian data centre company’s stalled attempt to go public, according to records filed with the financial regulator.
Scheduled payments of $US550 million ($780 million) are due this year for a single data centre development, alongside other requirements to handover shares in the company if it does not go public by the end of next month.
It reveals the immense pressure facing one of the most hyped AI companies in the country to raise enormous amounts of money to fund its future ambitions for expansion.
Firmus is an Australian-founded company that makes money by building data centres and renting out its capacity to other companies. Started in 2019, the company raised money at a $15 billion valuation in August and is backed by some of the biggest names in tech and finance, including Nvidia and Blackstone.
It abandoned what was set to be the biggest public offering on the Australian stock market since Telstra amid a souring of interest from investors, sparking renewed scrutiny towards data centre providers and AI companies across global markets.
A spokesperson for Firmus has been approached for comment.
The Australian
