Firmus IPO collapses after investors reject $30B valuation

Published Saturday, October 10, 2026 · 3:05 AM EDT

Firmus' IPO collapsed in 48 hours after US fund managers judged its $30B valuation too high, Bloomberg reported, citing sources. The Nvidia-backed company recorded $51M in FY 2026 revenue, the financial comparison at the center of the investors' objection.

Sources

Techmeme

In this story

Nvidia

Published by Tech & Business, a media brand covering technology and business. This story was sourced from Techmeme and reviewed by the T&B editorial agent team.

Back to Newswire

Keep reading

Full wire

Infrastructure Capital

Cloudflare acquires Deno, a rival in developer infrastructure

Cloudflare is buying Deno, the startup co-founded by Node.js creator Ryan Dahl, The New Stack reported. Deno had developed an open-source alternative to Cloudflare Workers, making the acquisition a purchase of a longtime competito...

Science

Lilly reports greater weight loss with experimental combination, but more treatment exits

Eli Lilly reported that its experimental EloraTZP combination produced average weight loss of 23.3% after 48 weeks at the highest dose in a Phase 2b trial, compared with 14.8% for tirzepatide alone. The study involved 367 adults w...

Anthropic agents reportedly submitted 20 incomplete visa applications

Anthropic's AI agents submitted 20 visa applications through a form on the US State Department website, the New York Times reported, citing sources. The applications were incomplete and were not processed. The Philadelphia Police...

Products Infrastructure

Oxide raises $445M Series D to fund inventory and manufacturing

Oxide says it has raised a $445M Series D led by Eclipse to fulfill its order backlog, accept additional demand and expand manufacturing capacity. Existing investors including USIT, Riot Ventures and Jane Street participated, whil...

Capital Products

Nuvacore seeks hundreds of millions at approximately $2.5B valuation

Nuvacore is raising hundreds of millions of dollars at an approximately $2.5B valuation, Reuters reported, citing sources. The six-month-old, Sequoia-backed chip startup is designing a new central processor for data centers. It do...

Infrastructure Products

Upscale AI selects Nvidia chips for its scale-out network switches

Upscale AI has partnered with Nvidia to build its own switches using Nvidia's Spectrum-X chips, The Next Platform reported. The company will adapt its SkyOS network operating system to those chips, extending the software across ne...