Company
Nvidia-backed cloud computing company based in Australia.
CoreWeave's bonds yielded 15% on Thursday, nine points above the roughly 6% Newcomer says its model needs. Firmus pulled its $30 billion IPO after investors balked. Newcomer calls the $35 billion Nscale filing shaky.
Reality
Blackstone-backed AirTrunk has delayed a Singapore REIT IPO of about $1.5 billion until next year, according to people familiar with the matter. One account blames a chip rout, the other US rate rises; the yield points to rates.
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Nvidia-backed data centre operator Firmus has withdrawn its Australian stock market listing, citing market volatility, and will seek private capital instead. The offer was meant to raise up to US$5.5 billion for GPUs at an Indonesian site, the Straits Times reported, so that capacity now depends on a private round still in talks.
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Firmus Grid scrapped its Australian IPO after investors balked at a $30 billion valuation, Mint reported. Listed rival CoreWeave is still worth $37 billion, so the sources show a failed price more clearly than a failed sector.
Reality
AI stocks sold off after the Financial Times put OpenAI's annualized revenue at about $50 billion, $20 billion below expectations. The rebound leans on a Bloomberg report that OpenAI expects $70 billion by year-end, a 40% climb in one quarter.
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