Tasmanians expressed doubts about AI firm Firmus, now so have investors

Key points

• AI company Firmus Technologies has cancelled its planned share market float on the Australian Securities Exchange due to weak demand. The company had aimed to raise $7 billion.
• Its three proposed Tasmanian AI data centres have faced community opposition, council appeals and delays, including a Launceston project now pushed back to early 2027.
• Firmus says its plans have not changed and that it has the money to proceed.