Firmus

As billions pour into AI data centres, the real opportunity may not lie in who builds the most capacity, but who generates the best return.

The key red flags that got in the way of Australia's most anticipated IPO.

AI factories, token demand and circular financing: we revisit Firmus less than a year on and ask whether the returns actually stack up.

Capital is flowing to build factories that produce tokens underpinned by huge demand. Hype or a new revolution?