Northern Data AG plans a US IPO of its AI cloud computing and data center businesses, potentially valuing the company at $16B.

Northern Data AG plans a US initial public offering (IPO) of its combined AI cloud computing and data center businesses, potentially valuing the company at up to $16 billion. The German firm is considering listing an entity comprising its cloud computing activities, Taiga, and its data centers, Ardent, on the Nasdaq in the first half of next year. Valuations for the business are estimated to be between $10 billion and $16 billion.