Nvidia-backed Firmus Grid, a power infrastructure provider for AI datacenters, moves toward a $7 billion IPO.

Nvidia-backed data center operator Firmus Grid has commenced premarketing for a potential A$7 billion listing in Australia, offering investors exposure to the infrastructure spending surge driven by the artificial intelligence boom.

Firmus began investor discussions Thursday ahead of its planned listing on the Australian Securities Exchange, according to IFR. The institutional bookbuild is scheduled to run from October 6 to 7, with the prospectus due on October 8. Retail investors will be able to bid for shares from October 12 through October 19.

The company, founded in 2019 by Oliver Curtis, Tim Rosenfield, and Jonathan Levee, expects to raise as much as A$5.5 billion in the offering. An additional A$500 million could be raised through a greenshoe option, contingent on investor demand.

Firmus operates data center infrastructure, positioning the planned IPO within the substantial investment cycle surrounding artificial intelligence and high-performance computing. The listing underscores how demand for AI computing is extending beyond semiconductors into the power and infrastructure systems required to operate increasingly large data centers.

Institutional bookbuild commencement on October 6 will provide the next significant catalyst, when investor demand should clarify market valuation of the AI infrastructure operator.