According to The Information, Nvidia is discussing an investment of hundreds of millions of dollars in Firmus Grid after the Australian AI cloud company scrapped its IPO plans. Nvidia already holds a stake in Firmus and several similar AI cloud companies, while Firmus, a neocloud provider, has taken on debt to fund its operations. Firmus had earlier in October cancelled an Australian listing citing market volatility, after initially planning an IPO at a valuation of over $30 billion. The move came amid a global rout in AI and cloud company valuations, as investors questioned rising neocloud debt and whether heavy AI infrastructure spending could be sustained. Nvidia-backed CoreWeave was the hardest hit, losing about 27% of its value over the past month.
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NVDA
• NeutralNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.2T |
| Close on 10/20/2026 | 216.47 |
| Change that session | -0.29% |
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