Firmus Slashes AI IPO Valuation 25% to $33B

Firmus reduced its AI IPO valuation by 25% to $33B after the offering failed to attract sufficient buyers, with indicative bid prices falling from $11 to $8 before order placement was halted. The downward revision followed bankers' warnings that the listing could be canceled entirely without improved investor interest, and weak demand from overseas investors drove the pressure.