The company’s prospectus will be prime-time viewing and its numbers will shock just like Alphabet’s $5b bond deal, SpaceX’s IPO and Anthropic’s revenue growth shocked.

Firmus’ deal to sell compute to the ChatGPT maker from two planned data centres in Malaysia is not substantial enough to win over sceptical investors.

The neocloud start-up has put investor meetings in the diary for its long-awaited listing, just as Nvidia’s executives talk up data centres to Australian clients in Melbourne.