The data centre company Firmus made national headlines last week after failing to complete its plans to offer shares on the ASX. Scrutiny from investors and journalists revealed that Firmus' promises were hiding a score of financial and governance issues.

It was a rare moment of transparency for an AI company. But as Australia continues to navigate the AI boom, it raises the question: is Firmus the exception or the rule?

The Wire's Aspen Beilharz spoke to Nik Suresh, CEO of the data consultancy Hermit Tech.