For immediate release
Firmus Technologies Targets $43.7 Billion Valuation in Landmark IPO
SYDNEY — Friday, October 2, 2026 — Firmus Technologies ("Firmus" or the "Company"), a global leader in sustainable AI infrastructure, today confirmed the pricing of its initial public offering at $11 per share, targeting a market capitalisation of $43.7 billion upon listing next month. This would position Firmus as the second-biggest float in Australian sharemarket history.
A Transformative Milestone
The Company, which operates data centres in Singapore and Melbourne and rents specialised processing chips to major technology companies including Meta Platforms, has attracted significant attention from institutional investors across Australia. The offering has sparked intense debate among the country's major investors over whether the neocloud hopeful represents a compelling buy or a potential bust.
The pricing of the IPO at $11 per share reflects strong demand and confidence in Firmus's business model and growth trajectory. The Company is positioned at the forefront of the rapidly expanding AI infrastructure sector, providing critical computing capacity to some of the world's largest technology companies.
A Defining Moment for Firmus
This announcement marks a pivotal moment in the Company's history. While Firmus remains proud of its Australian origins and the strong support it has received locally, its ambitions have always been global. Firmus is not simply an Australian success story — it is a global technology company solving global problems.
Why This Listing Matters
The listing will provide the Company with:
- Access to Deep Capital: The market offers a significantly larger pool of institutional investors who understand and value high-growth technology companies.
- Peer Valuation: Firmus will trade alongside its true global peers, ensuring its valuation reflects international potential rather than regional limitations.
- Enhanced Profile: A public listing elevates the Company's brand with global enterprise customers and partners, particularly across the North American market.
- Growth Capital: The listing will fuel the next phase of growth, enabling accelerated investment in R&D and faster scaling of operations.
What This Means
This is a win for everyone involved with Firmus. It provides the Company with the resources to execute its vision on a much grander scale. For employees, it means greater opportunities for career growth. For investors, it represents a commitment to maximizing long-term value on a stage that rewards innovation.
Firmus is not leaving its roots behind — it is using them as a launchpad. The Company is taking the best of Australian ingenuity and introducing it to the world's biggest stage.
Today marks the beginning of the next chapter for Firmus. The Company is ready to compete with the best in the world and looks forward to welcoming a new generation of investors to its journey.
About Firmus Technologies
Firmus Technologies is a leading provider of sustainable AI infrastructure solutions, designing and delivering high-performance computing systems that power the next generation of artificial intelligence workloads. The Company's mission is to accelerate the world's transition to intelligent, efficient, and environmentally responsible computing — enabling organizations to scale AI capabilities without compromising on sustainability.
Forward-Looking Statements
These announcements contain forward-looking statements regarding the Company's proposed public listing and future business operations. These statements are based on management's current expectations, estimates, and projections and are not guarantees of future performance.
Actual results may differ materially from those indicated by these forward-looking statements due to a variety of factors, including but not limited to: market conditions, regulatory approvals, the Company's ability to meet listing requirements, competitive pressures, and other risks detailed in the Company's filings with applicable regulatory authorities.
Any forward-looking statements represent the Company's estimates only as of the date of these announcements and should not be relied upon as representing the Company's estimates as of any subsequent date. While the Company may elect to update forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, even if its estimates change.
No Offer or Solicitation
These announcements are for information purposes only and do not constitute an invitation or offer to sell, dispose of, acquire, purchase, or subscribe for any securities of the Company. Neither these announcements nor anything herein forms the basis for any contract or commitment whatsoever.
These announcements are not a prospectus, offering circular, notice, circular, brochure, or advertisement offering to sell any securities to the public in any jurisdiction. They are also not an invitation to the public to make offers to subscribe for or purchase any securities, nor are they calculated to invite offers by the public to subscribe for or purchase any securities.
The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
Responsibility Statement
The directors of the Company collectively and individually accept full responsibility for the accuracy of the information contained in these announcements and confirm, having made all reasonable enquiries, that to the best of their knowledge and belief, the information contained in these announcements is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein misleading.
No Liability
The Company, its directors, officers, employees, and agents expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of these announcements.