# Nvidia-Backed Firmus Grid Faces Uncertainty After IPO Bookbuilding

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/27885
Published: 2026-10-08T09:24:57.000Z
Updated: 2026-10-08T09:24:57.000Z
Section: Business

> The Australian AI data-center operator planned to raise up to $5.5 billion, while existing shareholder Maas Group Holdings suffered a record share-price drop.

Nvidia-backed Australian AI data-center operator Firmus Grid faces uncertainty over its planned initial public offering amid concerns about post-listing performance and potential selling pressure from existing shareholders.

Firmus Grid completed its IPO bookbuilding process on Oct. 8 as scheduled, but the final offering price and trading structure remained unclear. The company had planned to raise up to $5.5 billion, a deal that could rank among Australia’s largest IPOs.

Concerns surrounding the listing also hit Maas Group Holdings, an existing Firmus shareholder. Maas shares fell as much as 30% during Sydney trading, marking the stock’s largest recorded decline.

The developments highlight risks facing AI data-center financing as investors weigh the IPO’s potential post-listing performance and selling pressure from existing shareholders.