$41 billion deal puts Firmus on track for decade's largest ASX listing

Firmus Technologies is positioned for the largest Australian Securities Exchange listing this decade following a major partnership with OpenAI. The agreement involves multi-year strategic collaborations where OpenAI will use dedicated AI compute capacity provided by Firmus. This arrangement establishes US$1 trillion as an anchor customer for the infrastructure operator, raising its total contracted capacity to 900 megawatts across Malaysia, Singapore, Indonesia, and Australia. Two sites are currently operational, with five additional factories expected delivery before end of 2028. Estimates suggest this 900-megawatt contract equals US$41 billion in capital spending according to Wells Fargo analysis. Firmus co-founder Tim Rosenfield stated the firm spent seven years building this footprint. Concurrently, OpenAI announced it will not go public in 2026. CEO Sam Altman cited safety risks as a reason for delaying an IPO, warning of unacceptable even if a ten percent chance of AI causing human extinction exists by decade's end. Industry leaders including Dario Amodei of Anthropic and Elon Musk of xAI Corp are calling for slowing model development. All three executives support the use of independent evaluators with employee-like access.