AI Cloud Firm Northern Data Raided by German Investigators (3)

German investigators have carried out raids in relation to Northern Data AG, the Frankfurt-listed technology firm backed by stablecoin issuer Tether Holdings Ltd. that has been moving away from crypto mining to focus on artificial-intelligence computing.

“There were raids in connections with Northern Data yesterday,” a spokesperson for Frankfurt-based prosecutors told Bloomberg News on Friday. The spokesperson declined to comment on the reason for the raids or what investigators were searching for, only saying that prosecutors are expected to release more details on Monday.

The raids included Northern Data’s Frankfurt office, according to people familiar with the matter. It ...