 | Northern Data AG Plans US IPO with AI Expansion, Seeks $16 Billion ValuationNorthern Data AG is in talks with advisors to announce a US IPO for its data center and AI cloud computing businesses. The crypto mining firm aims for a $16 billion valuation. Northern Data Eyes US IPONorthern Data plans to list on Nasdaq by the first half of 2025. The IPO will include its data centers, known as Ardent, and its cloud computing division, Taiga. The company may sell a minority stake in these units before the listing. Northern Data will soon announce the banks leading the IPO. Frankfurt-based crypto miner Northern Data went public in Europe in 2018. Since the start of 2024, its shares have dropped by 5%, resulting in a market value of €1.3 billion ($1.4 billion). As Bitcoin mining becomes more costly and less profitable, many firms are shifting their focus to AI. [link] [comments] |
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