[Nscale Plans IPO This Month, Actual Operating Capacity Below 1%]
AI data center developer Nscale plans to go public as early as this month, but it faces challenges such as construction delays, equipment failures, regulatory issues, and employee complaints. Currently, Nscale has almost no operational data centers, with actual capacity below 1% of the potential capacity stated in its S-1 filing. Nscale was spun off from crypto mining company Arkon Energy and has secured contracts worth over $103 billion. In March of this year, it raised $2 billion in Series C funding with participation from NVIDIA and others. The company is seeking a valuation of up to $35 billion for its IPO, but it faces bottlenecks in power supply, grid connection, construction progress, and customer delivery. (Source: Bloomberg)
