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Startups & Venture·October 21, 2026·1 min read

Firmus Fiasco Was Investors ‘Doing Their Job,’ Says Pension CIO

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A failed AI-infra listing being framed as investors “doing their job” is a reminder that the public markets will not underwrite every AI-adjacent story. Infra founders should expect sharper scrutiny on unit economics and contract quality—“AI tailwind” is no longer enough to clear an IPO bar.