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The float is off. The chip bill is not
You know that feeling when a big bill lands and the money you were counting on has not? Australian AI data centre company Firmus knows it, at a very big scale.
Its annual report, filed with ASIC, shows a US$8.3 billion commitment to buy AI chips for its data centre project in Batam, Indonesia. Its forecasts assumed the float would help pay for them, alongside new loans.
Who is Firmus? An Australian-founded company, started in 2019, that builds data centres and rents out the capacity to other companies. Think of it as a landlord whose tenants are computers. It raised money at a A$15 billion valuation in August, backed by names like Nvidia and Blackstone.