Two weeks ago, when SoftBank's SB Energy pulled the marketing of its giant IPO meant to find its even more giant data center, we wrote that "slowly the data center dream is turning into a nightmare" ("SB Energy Delays IPO Funding World's Largest Data Center Amid Investor Revolt, Public Outcry", Sep 22). Two days later we went a little further:
SB Energy is next and then it's all over
— zerohedge (@zerohedge) September 24, 2026
"All over" may be premature. "Next," however, has arrived right on schedule.
Overnight, Bloomberg reported that Australian data center operator Firmus closed the books on its struggling IPO "without clear indication of the price or the deal structure," as investors grew "increasingly concerned that the deal could be pulled."
Artist rendering of what the data center will look like... maybe... one day... if it's ever completed.The Nvidia-backed company had been trying to raise as much as $5.5 billion at A$11 a share, which valued it at A$43.7 billion ($30.4 billion) and would have made it one of the largest listings in Australian history. By the time the books closed, the A$11 was gone: per the READ MORE AT SOURCE »
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