Nscale targets up to $35B IPO as Norway AI data center slips six months
AI summary
Bloomberg reports that UK AI infrastructure firm Nscale plans to launch an IPO as soon as this month, seeking to raise up to $3 billion at a valuation of as much as $35 billion. Sources say its flagship AI data center in Norway is about six months behind schedule — with workers set to be housed in a floating hotel to finish it — and that the project has also faced regulatory hurdles, a fire and other delays, with penalties owed to Microsoft and ByteDance. The report adds that investors are growing warier of the risks of the AI buildout.
In-depth insight
It shows how delivery risk in the AI data center buildout is starting to shape valuations and listing timelines for infrastructure companies.