Bloomberg: Nscale will still proceed with its IPO as planned, targeting a $30 billion valuation

On October 29, according to Bloomberg, AI data center developer Nscale, which transitioned from a Bitcoin mining company, will still proceed with its IPO as planned, targeting a valuation of $30 billion. However, Nscale's IPO comes amid pressure on the AI infrastructure sector. Although the company claims to have signed contracts worth $103 billion, it has only delivered 55 megawatts of computing capacity by August 2026, while the potential contract demand corresponds to a capacity of 10 gigawatts. Additionally, Nscale's data center projects face delays, security violations, and operational challenges, and Microsoft recently withdrew from one of its UK data center projects.