[Sources: Nscale to Proceed with IPO, Aiming for $30 Billion Valuation] According to sources familiar with the matter, despite market skepticism, Josh Payne, founder and CEO of Nscale, an AI data center developer that transitioned from a Bitcoin mining company, revealed that the company will proceed with its IPO as planned, aiming for a $30 billion valuation. In a recent internal memo to employees, he stated that Nscale possesses "insatiable" market demand and a "robust capital structure," adding that "the numbers speak for themselves." However, Nscale's IPO comes at a time of pressure for the AI infrastructure industry. While the company claims to have signed $103 billion in contracts, it has only delivered 55 megawatts of computing power as of August 2026, while potential contract demand corresponds to a capacity of 10 gigawatts. Furthermore, Nscale's data center projects face delays, security violations, and operational challenges; Microsoft also recently withdrew from one of its UK data center projects. (Bloomberg)