Oliver Curtis’ transformation from jailbird to corporate kingpin has gone awry

October 8, 2026 — 2:46pm

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October was supposed to be former Cooma Correctional Centre resident Oliver Curtis’ moment not just of redemption, but ascension. Had the AI data centre company he co-founded, Firmus, gone public at a $43.7 billion valuation this month, Curtis’ corporate apotheosis would have been complete.

Instead, the seven-year-old start-up’s plans for a sharemarket listing were hanging in the balance on Thursday morning, after its bankers cut the share price for the big institutions that buttress an ASX float before it starts trading from $11 to $8.25. And there were concerns the whole listing scheduled for October 23 could topple over.

Curtis, who is Firmus’ chief executive and largest individual shareholder, owning about 13 per cent before the planned sharemarket listing, stood to end up with a stake worth billions if everything went to plan. Valuing such a shareholding amid the tumult of a public offering is difficult, but if the company’s shares drop........

© The Sydney Morning Herald