Northern Data AI cloud computing and data center business plans to IPO in the U.S. next year, with a valuation of $16 billion

Odaily Odaily News: According to people familiar with the matter, mining company Northern Data AG is negotiating with potential advisers about a joint project of its artificial intelligence cloud computing and data center business to conduct an IPO in the United States, which could be valued at up to $16 billion. The company has invited several potential advisers to bid and may appoint a lead bank in the coming months, people familiar with the matter said. They said that according to current plans, Northern Data will list an entity consisting of its cloud computing business (called Taiga) and data center (called Ardent) on Nasdaq as early as the first half of next year. People familiar with the matter said that banks recommend a valuation of about $10 billion to $16 billion for the business. Northern Data may also sell a minority stake in the unit to investors before the listing. Deliberations are still ongoing, details may change, and the company may decide not to proceed with the strategic options being considered. A representative for Northern Data declined to comment. According to a statement from the company in May, Peak Mining is its bitcoin mining division in the United States, and currently has nearly 700 megawatts of data centers under construction or development; this will make it one of the largest cryptocurrency mining companies in the United States. (Bloomberg)