Firmus is the subject of today’s news after pulling an ASX IPO amid soft demand, citing volatile markets. Current role: as described in supplied facts.
OpenAI has told investors that its annualized revenue is around $50 billion by the end of September, a figure CNBC has confirmed, which is significantly below the widely reported $68 billion figure. The discrepancy is contributing to volatility in tech stocks and raising questions about the company’s valuation ahead of a potential 2027 IPO. CNBC and TechCrunch report variations in how revenue is calculated, with implications for comparisons to Anthropic.
Firmus Technologies has scrapped its planned ASX listing, citing market volatility and a valuation investors deemed excessive. The Nvidia-backed AI-datacentre developer will pursue private funding and alternative public options. Backers include Nvidia, Coatue, Blackstone and Jane Street. The move underscores caution around AI IPOs despite the sector’s hype.