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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n