Today, senior reporter Jonathan Shapiro and tech editor Paul Smith take us inside the spectacular undoing of Firmus: what went wrong, how it unravelled in a week, and what this sudden collapse reveals about the AI boom.

This podcast is sponsored by Ripple

Further reading:
How Firmus’ $44b IPO failure unfolded
Firmus was on a runaway train to become one of the country’s most valuable listed companies. This is the day-by-day account of how that hope evaporated.
The pain that killed Firmus’ float is spreading. Here’s a new victim
AirTrunk’s decision to delay its Singaporean property IPO is another sign that the rising cost of capital is starting to foster doubts in the global artificial intelligence trade.
AirTrunk postpones $4.4b Singapore listing as interest rates soar
AirTrunk, has delayed plans to list a real estate investment trust in Singapore due to global market volatility, including rising interest rates.

Today, senior reporter Jonathan Shapiro and tech editor Paul Smith take us inside the spectacular undoing of Firmus: what went wrong, how it unravelled in a week, and what this sudden collapse reveals about the AI boom.
This podcast is sponsored by <a href="https://ripple.com/">Ripple</a>
Further reading: <a href="https://www.afr.com/companies/financial-services/the-anatomy-of-a-catastrophic-44b-asx-listing-failure-20261014-p6151n?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=the_fin&amp;utm_content=&amp;utm_term=newsroom">How Firmus&rsquo; $44b IPO failure unfolded</a> Firmus was on a runaway train to become one of the country&rsquo;s most valuable listed companies. This is the day-by-day account of how that hope evaporated. <a href="https://www.afr.com/chanticleer/first-came-firmus-now-airtrunk-hits-pause-on-ipo-as-ai-boom-wobbles-20261014-p615dw?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=the_fin&amp;utm_content=&amp;utm_term=newsroom">The pain that killed Firmus&rsquo; float is spreading. Here&rsquo;s a new victim</a> AirTrunk&rsquo;s decision to delay its Singaporean property IPO is another sign that the rising cost of capital is starting to foster doubts in the global artificial intelligence trade. <a href="https://www.afr.com/technology/airtrunk-postpones-4-4b-singapore-listing-as-interest-rates-soar-20261014-p615d4?utm_source=omny&amp;utm_medium=podcast_notes&amp;utm_campaign=the_fin&amp;utm_content=&amp;utm_term=newsroom">AirTrunk postpones $4.4b Singapore listing as interest rates soar</a> AirTrunk, has delayed plans to list a real estate investment trust in Singapore due to global market volatility, including rising interest rates.

A weekly podcast from The Australian Financial Review that examines the biggest stories in business, markets and politics, and why they matter, explained by the best financial journalists in the country.

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A weekly podcast from The Australian Financial Review that examines the biggest stories in business, markets and politics, and why they matter, explained by the best financial journalists in the country.
Search The Fin and follow us wherever you get your podcasts.

A weekly podcast that examines the biggest stories in business, markets and politics, and why they matter.