00:00The AI boom has its first big reality check.
00:03Australian data center company Firmas Technologies withdrew its planned IPO
00:07after investors balked at its proposed valuation of roughly $44 billion Australian dollars,
00:12$31 billion U.S. dollars.
00:14The company had aimed to raise billions to fund its AI infrastructure ambitions,
00:17but investors raised concerns about valuation, execution,
00:21and how much infrastructure was actually operational.