[Nvidia-backed Nscale Considers Delaying $35 Billion IPO] Affected by market conditions and valuation pressures, Nvidia-backed AI data center company Nscale is considering delaying its $35 billion IPO plans until next year. A global sell-off in tech stocks has wiped out $3 trillion in market capitalization in the US stock market, and market concerns about the impact of the US midterm elections on data center construction have led to a decline in AI company valuations. Nscale filed for an IPO on the NYSE in September, seeking a valuation of up to $35 billion, but some investors believe its current valuation is less than half that figure; the company's valuation in a funding round earlier this year was $14.6 billion. Nscale is expected to release its third-quarter earnings report soon and has not yet made a final decision. The IPO plans have previously been hampered by Microsoft's withdrawal last month from the deal to lease its flagship data center in Lawton, Essex, and grid connection delays that have delayed site construction. Nvidia, an investor in Nscale, was originally expected to invest another $1 billion this month. Director Nick Craig expects to receive up to $40 million from the IPO, while CEO Josh Payne could receive $350 million. The company has contracts worth over $100 billion with clients such as Microsoft and Anthropic. (Source: The Daily Telegraph)