Two IPOs test the AI hype, Aussie property keeps falling & a closer look at Firmus

Live from Central Park in New York, Bryce & Ren unpack a cooling Australian property market before turning to two enormous IPOs testing investor appetite for AI. Anthropic is chasing a potentially record-breaking US listing, while Australian data centre operator Firmus is targeting a valuation that would instantly put it among the ASX’s biggest companies. But, when Firmus is stacked up against global AI infrastructure peers, does the valuation make sense, or is the hype running ahead of the numbers?

In this episode:

00:00 Live From Central Park: Property, AI & IPOs

04:06 Australian Property Prices Keep Falling

09:15 Anthropic & Firmus Test the AI Trade

10:31 Inside Anthropic’s Eye-Watering IPO Numbers

14:36 Firmus Targets a $43.7 Billion Valuation

17:27 What Exactly Is an AI Factory?

22:38 Firmus vs Global AI Infrastructure Competitors

27:06 Would Bryce & Ren Buy Firmus?

Stocks & ETFs Mentioned: SpaceX (NASDAQ: SPCX), Telstra (ASX: TLS), Woolworths (ASX: WOW), Coles (ASX: COL), Cochlear (ASX: COH), Transurban (ASX: TCL), NEXTDC (ASX: NXT), Nebius (NASDAQ: NBIS), IREN (NASDAQ: IREN), Cipher Digital (NASDAQ: CIFR), Applied Digital (NASDAQ: APLD), NVIDIA (NASDAQ: NVDA), TSMC (NYSE: TSM)

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