Australian AI company Firmus withdraws its planned ASX listing after its highly anticipated float collapses within days, according to multiple reports. The company’s brief push toward a valuation framed as comparable to major retailers ends with investors not backing the offering, and Firmus moves to cancel the listing.
Firmus co-founder Oliver Curtis publicly attributes the outcome to Australia’s “mantra of disbelief around entrepreneurs,” saying the failure is a “loss for Australia.” Other coverage focuses more on questions about the founders’ approach and the broader climate for AI investment, including whether the hype around the listing and expectations were realistic. One outlet reports that fund managers disagreed with Curtis’s assessment, implying a disconnect between the company’s messaging and investors’ views.
The reporting also notes Curtis’s prior legal history: he previously served prison time related to insider trading. Across sources, the story is presented as a rapid shift from a boomlike market narrative to a sudden retrenchment, highlighting concerns around AI financing and due diligence.
