Nscale, an AI data center developer that pivoted from Bitcoin mining, is proceeding with its planned listing targeting a $30 billion valuation, according to Bloomberg. The move comes amid mounting pressure on the broader AI infrastructure sector. Despite claiming $103 billion in signed contracts, Nscale had delivered only 55 MW of computing capacity as of August 2026 — far short of the roughly 10 GW implied by its potential contract demand. The company's data center projects have faced delays, security violations, and operational challenges, while Microsoft recently withdrew from one of Nscale's UK data center projects.