The Firmus flop tells us much about the ASX, AI and super’s exposure

The weekend offered time for reflection about one of the most remarkable weeks in Australian capital markets, in which anticipated triumph turned into abject failure.

Friday’s confirmation that Firmus, the ambitious Nvidia-backed artificial intelligence infrastructure play, was pulling its $44 billion initial public offering after failing to raise the desired $US5.5 billion ($7.9 billion) has prompted some soul-searching about the broader consequences of this flop.

Gift articles to anyone you choose each month when you subscribe.