https://www.live-feeds.com/feed/nvidia-and-micron-technology-just-received-some-very-bad-news-from-an-unlikely-placeContinuously updated, source-cited coverage. https://www.live-feeds.com/feed/nvidia-and-micron-technology-just-received-some-very-bad-news-from-an-unlikely-placehttps://www.live-feeds.com/feed/nvidia-and-micron-technology-just-received-some-very-bad-news-from-an-unlikely-place#u124951Fri, 16 Oct 2026 04:52:24 +0000Nvidia-backed Firmus has cancelled its $5 billion Australian IPO due to weak demand. The company was seeking a $30 billion valuation despite only $51 million in revenue. This development has significant implications for the AI industry and the Australian stock market.Why it mattersThe cancellation of Firmus' IPO is a setback for Nvidia and Micron Technology, which have been investing heavily in the AI sector. The Australian stock market had been expected to play a significant role in the company's growth plans. The failure of the IPO has raised questions about the viability of AI-rel