Northern Data Weighs AI Unit IPO at Up to $16 Billion Value (2)

Northern Data AGis speaking with potential advisers about a US initial public offering of its combined artificial intelligence cloud computing and data center businesses, according to people familiar with the matter.

Banks asked to pitch for a role have suggested valuations for the business from about $10 billion to $16 billion, the people said. Under the current plan, Northern Data would list an entity comprising its cloud computing activities, dubbed Taiga, and its data centers, called Ardent, on the Nasdaq as early as in the first half of next year, they said.

Northern Data shares jumped as much as ...