Firmus Grid lines up $3.8B ASX IPO at a ~$30B valuation, with half the shares going to Nvidia and Blackstone

Australian AI data-center operator Firmus Grid is raising about A$5.5B (~$3.8B) including the greenshoe at A$11 a share, valuing it near A$43.7B (~$30.3B), with Bloomberg reporting that roughly half the offering is earmarked for existing holders Nvidia and Blackstone, who have committed to increase their stakes. The bookbuild deadline was pulled forward to Thursday, listing is slated for October 23, and proceeds fund GPUs for its first data center in Batam, Indonesia. It would be Australia's second-largest IPO ever and a public-market test of GPU-cloud economics outside the US.