US investment giant lands at RetireAustralia | Firmus streaks towards pre-IPO raise | Factory inks tattoo parlours deal

Good evening,

Firmus Technologies, the AI infrastructure start-up that has its heart set on an ASX listing next year, is getting ready to rule off its $280 million pre-IPO capital raising.

Street Talk understands lead stockbroker Morgans shut its high-net-worth book on Monday and has more than $250 million in commitments, suggesting a final close is days away. Allocations are still being decided, which will determine the ultimate shape of the book ahead of a sharemarket float, sources say.

According to a pitch in front of investors and seen by Street Talk, Firmus told potential investors it was seeking to raise $1.5 billion as part of a broad funding round – $US180 million in equity, a $US300 million convertible note and a $US965 million GPU debt facility – essentially where lenders lend against the Nvidia graphics chips.

Read the full story tomorrow and more on the Street Talk page.

Australian shares dipped on Monday as investors braced for US President Donald Trump’s imminent tariff deadline and the Reserve Bank’s interest rate decision on Tuesday.

Click here for the latest equity market wrap.