Reported 12 months ago
Germany-based Northern Data AG is exploring a U.S. initial public offering for its artificial intelligence (AI) cloud computing and data center units at a valuation of up to $16 billion. The company plans to list its cloud computing unit Taiga and data centers under the entity Ardent on the Nasdaq stock exchange in the first half of next year. This move comes as the U.S. IPO market shows signs of promise in 2024, with increasing investor interest in AI-based startups amid growing demand in artificial intelligence technology.
Source: YAHOO