Northern Data considers AI unit US IPO at up to $16 billion: Report

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 as much as $16 billion, Bloomberg News reported on Monday, citing people familiar with the matter.

The company, which provides infrastructure for high-performance computing, plans to enlist an entity comprising its cloud computing unit Taiga, and data centers, called Ardent, on the Nasdaq stock exchange as early as the first half of next year, according to the report.