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<p>Same day, two very different AI valuations.

Palantir closed at a record $209.05 on Friday, pushing its market cap past $500B.
It has guided Q3 revenue to about $2.16B.

Firmus, the Nvidia-backed AI data-center builder, pulled its Australian IPO:
• asked about A$44B (~US$30.6B), nearly 3x its August private round
• about A$50M of revenue last financial year
• 46 MW live, 865 MW under development
• a reported price cut from A$11 to A$8.25 didn't save it

Public markets will still pay up for AI.
They want revenue in the room, not just megawatts in the pipeline.</p>

Same day, two very different AI valuations.
Palantir closed at a record $209.05 on Friday, pushing its market cap past $500B.
It has guided Q3 revenue to about $2.16B.
Firmus, the Nvidia-backed AI data-center builder, pulled its Australian IPO:
• asked about A$44B (~US$30.6B), nearly 3x its August private round
• about A$50M of revenue last financial year
• 46 MW live, 865 MW under development
• a reported price cut from A$11 to A$8.25 didn't save it
Public markets will still pay up for AI.
They

Same day, two very different AI valuations. Palantir closed at a record $209.05 on Friday, pushing its market cap past $500B. It has guided Q3 revenue to about $2.16B. Firmus, the Nvidia-backed AI data-center builder, pulled its Australian IPO: • asked about A$44B (~US$30.6B), nearly 3x its August private round • about A$50M of revenue last financial year • 46 MW live, 865 MW under development • a reported price cut from A$11 to A$8.25 didn't save it Public markets will still pay up for AI. They want revenue in the room, not just megawatts in the pipeline.

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