Oct 9 (Reuters) – Power infrastructure firm Base Electron said on Friday it had confidentially filed for a U.S. initial public offering.
The confidential filing comes as interest in AI-linked infrastructure remains strong, though investors are increasingly scrutinising valuations, capital needs and backlog quality.
Here are some details:
• The number of shares to be offered and the price range for the proposed offering have not yet been determined, the company said.
• Applied Digital formed Base Electron to supply power to the technology firm’s AI campuses under separate agreements.
• Base Electron develops, owns and operates energy infrastructure serving data centers, AI facilities and large industrial users.
• Cumulative spending globally on data centers alone could top $30 trillion by 2050, according to a projection by PwC.
• In March, Base Electron approved a $2.4 billion agreement with Babcock & Wilcox for equipment to support a 1.2-gigawatt power project serving Applied Digital’s artificial intelligence campuses.
(Reporting by Pragyan Kalita in Bengaluru; Editing by Anil D’Silva)
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