Firmus Technologies scrapped its initial public offering on Australia's ASX after investor demand for the datacentre company's listing dried up. The company had planned to offer shares at $11 each, which would have made it Australia's largest stock market debut since Telstra's 1997 listing. Firmus said in a statement that its board decided proceeding with the offer no longer served the best interests of the company and shareholders. The withdrawal signals cooling investor appetite for AI datacentre businesses despite recent hype around the sector.