According to a report by The Information on the 21st, after the Australian artificial intelligence (AI) cloud services company Firmus Grid announced last week the suspension of its IPO plans, Nvidia (US.NVDA) is in talks to invest hundreds of millions of dollars.
The report, citing sources, said the move reflects Nvidia's continued support for these struggling, heavily indebted AI startup cloud service providers. Nvidia has not yet responded.
Firmus Grid had previously received investment from Nvidia and was expected to become the largest IPO in Australian history, but due to weak market demand, it announced last week the withdrawal of its IPO plans and will instead raise funds from the private market. (yc)
The report, citing sources, said the move reflects Nvidia's continued support for these struggling, heavily indebted AI startup cloud service providers. Nvidia has not yet responded.
Firmus Grid had previously received investment from Nvidia and was expected to become the largest IPO in Australian history, but due to weak market demand, it announced last week the withdrawal of its IPO plans and will instead raise funds from the private market. (yc)