Nvidia-backed Firmus Grid Ltd. withdraws IPO amid controversy over excessive valuation relative to revenue
NVDA NVIDIA Corp
$229.28 -0.52%
View chart & analysis → - 1Firmus Grid Ltd. withdrew its approximately $5 billion IPO on Friday due to lack of demand.
- 2Firmus's target valuation of $30 billion represents approximately 600 times its annual revenue of $51 million.
- 3Firmus is considering a private funding round of $2 billion to $3 billion alongside existing investors.
So what's the key point?
Firmus Grid Ltd. gave up on going public because there were not enough buyers. There is controversy that the company's value is too high compared to its $51 million in revenue.
Source Benzinga Prediction Markets · View original ↗
Today's 5 AI picks, all freeNothing hidden: past picks and how they did against the S&P 500.