AI data center builder Nscale reportedly seeking $3B IPO
Nscale Global Holdings Ltd. reportedly plans to raise $3 billion in an initial public offering that could take place as soon as next month.
Bloomberg today cited sources as saying that the London-based company intends to list its shares on a U.S. stock exchange. According to the report, it has hired Goldman Sachs Group Inc. and JPMorgan Chase & Co. to manage the IPO.
The tipsters didn’t specify the valuation that Nscale is targeting. The company, which builds and operates artificial intelligence data centers, received a $14.6 billion valuation following its most recent funding round. The March raise included the participation of Nvidia Corp., Nokia Corp. and other high-profile backers.
Nscale opened its first data center last year in Norway. Today, the company is building AI infrastructure in more than a dozen locations worldwide. Bloomberg reported that Nscale hopes to grow its data center capacity from 831 megawatts to about 11 gigawatts.
