Reposted by @miggieblue.bsky.social
The neocloud bubble is wild. Aussie startup Firmus has an IPO next week forecast at $30b. Its plans include 2 data centres that will suck 15% of the electricity in Tasmania, the main customer is OpenAI, it has no audited financials, and its co-founder is a criminal www.reuters.com/business/5-b...
reuters.com
$5 billion Firmus IPO divides investors after valuation triples in two months
As Australian data centre operator Firmus prepares to launch a $5 billion initial public offering, the country's second-largest ever, prospective investors are questioning the firm's surging valuatio...