🇹🇷 Turkish, 9 October 2026, ipo cancellation
Firmus Cancels Mega IPO Amid Market Volatility
Firmus, a company building data centers for AI, has canceled its planned IPO due to market uncertainty.
Firmus, which was initially valued at over $30 billion, has announced that it will instead seek private funding and explore alternative options.
The company, which builds and operates liquid-cooled data centers for clients like OpenAI and Meta, has seen its plans disrupted by market volatility.
Firmus’s backers include Nvidia, Blackstone, and Jane Street, but the company’s decision to cancel its IPO has raised concerns about the long-term prospects of AI investments.