6h ago
Firmus Technologies’ $7 billion ASX IPO in doubt amid pushback on $44 billion valuation
Firmus Technologies, a former bitcoin miner now building AI-focused data centres, is seeking a $7 billion IPO on the ASX that would value the company at $44 billion. Bankers have struggled to line up buyers at the targeted $11 per share and are looking at cutting the price to around $8.25 to keep the float alive, according to The Australian and The Australian Financial Review. Maas Group, which owns 3.2% of Firmus, sank more than 20% on Thursday.
6h ago
8h ago
Samsung forecasts Q3 operating profit of 107.4 trillion won ($80.18 billion), a first above 100 trillion won
Samsung Electronics said it expects third-quarter operating profit of about 107.4 trillion won ($80.18 billion), nearly nine times higher than a year earlier. The figure would mark its first quarterly operating profit above 100 trillion won and surpass the prior record of about 89 trillion won set in the second quarter. The company continues to benefit from strong demand for memory chips tied to the artificial-intelligence boom.
8h ago
8h ago
Samsung forecasts Q3 operating profit of 107.4 trillion won on AI memory demand surge
Samsung Electronics said on Oct 8 it expects third-quarter operating profit to reach 107.4 trillion won, nearly nine times higher than a year earlier and slightly above market expectations. The company forecast revenue rising 127% to 195 trillion won. Samsung said booming AI chip demand drove strong memory-chip sales, and it and Micron expect the supply-demand imbalance to persist into 2028. It also flagged longer-term risks including rising costs, competition from China and potential U.S. semiconductor tariffs.
8h ago
9h ago
Solv Protocol co-founder Meng Yan says he exited daily operations and was unaware of the BTC+ incident
Solv Protocol co-founder Meng Yan said he is no longer involved in the project’s day-to-day operations and was not engaged in the BTC+ business, adding that he was unaware of the security incident when it happened. He said a user later contacted him asking him to communicate with Solv’s business team, according to ChainCatcher. Solv previously disclosed a BTC+ security incident in July, saying a 50 BTC deposit and subsequent actions became an important condition in the attack path, with the attack occurring three days later but being identified and blocked in time to protect user funds. Meng said current facts do not prove the two matters are necessarily related, but they were sufficient to trigger a higher-level security review.
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9h ago