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Northern Data Plans U.S. IPO for AI-Backed Business

Preliminary Discussions Underway with Potential Advisers

Germany’s Bitcoin mining company, Northern Data, is reportedly engaged in talks with potential advisers about a U.S. initial public offering (IPO) for its combined artificial intelligence (AI) cloud computing and data center businesses, slated for next year. This development follows the company’s earlier consideration of separate IPOs for its cloud unit and Bitcoin mining operations.

IPO Value Estimated Between $10 Billion and $16 Billion

Sources familiar with the matter suggest that the IPO could value the entity between $10 billion and $16 billion. Additionally, Northern Data might sell a minority stake in the unit to investors before the listing. The Frankfurt-headquartered company is currently in talks with several potential advisers to pitch for a role and could mandate lead banks within the coming months.

Uncertainty Surrounds Reason for Combining AI and Data Center Units

The reasons behind Northern Data’s decision to combine its AI and data center units remain unclear. The company had previously considered an IPO for the cloud unit alone and a separate U.S. listing for its Bitcoin mining operations last November.

Share Prices Surge Following News

Following the announcement, Northern Data shares on the XETRA stock exchange surged over 5% to €25, according to data from Google Finance.

Recent Collaboration with Tether

In September 2023, Tether announced a collaboration with Northern Data to focus on initiatives around AI, peer-to-peer communications, and data storage solutions. While figures related to the deal were not disclosed, the stablecoin issuer refuted reports suggesting it had spent $420 million on 10,000 H100 GPUs from Northern Data.

How AI legalese decoder Can Help

AI legalese decoder can assist with deciphering complex legal documents and contracts related to the IPO process. The tool uses AI-powered technology to analyze and extract key information from dense legal text, making it easier to understand the terms and conditions of the IPO.

With AI legalese decoder, Northern Data and its potential investors can benefit from:

• Precise and accurate contract analysis: AI legalese decoder can quickly identify and extract relevant clauses, allowing for a better understanding of the contractual obligations.
• Compliance checks: The tool can help identify potential compliance issues and flag any areas that require further review or attention.
• Risk assessment: AI legalese decoder can provide a detailed risk assessment, highlighting potential areas of concern and helping to mitigate potential risks.
• Improved negotiation: By having a clear understanding of the contractual terms, parties can negotiate more effectively and make informed decisions.

By leveraging AI legalese decoder, Northern Data can ensure a smoother IPO process, mitigate potential risks, and make informed decisions to drive its business forward.

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