People familiar with the matter said that after several artificial intelligence companies experienced successive market setbacks, the valuation targets sought by Nscale Co., Ltd. in this IPO were opposed by investors. The data center developer, which was invested by Nvidia, originally wanted the IPO to be valued at around $300 billion, sources said. According to some people familiar with the matter, considering factors such as the failure of the listing plan of Australian AI data center company Firmus, many investors recently proposed that it is easier to obtain market subscriptions if the valuation is in the range of 16 billion to 19 billion US dollars. Valuation differences have worsened Nscale's IPO plans. The company said on Sunday that Microsoft, one of its biggest customers, has withdrawn from the UK data center cooperation project. The project was previously affected by power supply restrictions, and the construction schedule continued to be delayed. As financing costs rise, the market's sentiment on AI infrastructure companies such as chip makers and cloud computing companies has weakened as uncertainty about the long-term returns of AI technology has increased in the market.

People familiar with the matter said that after several artificial intelligence companies experienced successive market setbacks, the valuation targets sought by Nscale Co., Ltd. in this IPO were opposed by investors. The data center developer, which was invested by Nvidia, originally wanted the IPO to be valued at around $300 billion, sources said. According to some people familiar with the matter, considering factors such as the failure of the listing plan of Australian AI data center company Firmus, many investors recently proposed that it is easier to obtain market subscriptions if the valuation is in the range of 16 billion to 19 billion US dollars. Valuation differences have worsened Nscale's IPO plans. The company said on Sunday that Microsoft, one of its largest customers, has withdrawn from the UK data center cooperation project. The project was previously affected by power supply restrictions, and the construction schedule continued to be delayed. As financing costs increase and uncertainty about the long-term returns of AI technology in the superposition market, market sentiment towards AI infrastructure companies such as chip makers and cloud computing companies has weakened.