A leading British AI firm has suffered a significant blow after Microsoft pulled out of a deal to be the ‘anchor tenant’ at its new data centre in Essex.
In September, AI infrastructure company Nscale filed for a multibillion-dollar flotation on the New York Stock exchange, targeting a valuation of $35billion (£26.25billion).
If met, that would see board member and former deputy prime minister Nick Clegg, who owns 917,000 shares in the startup or 0.12 per cent equity, in line for a windfall of up to £30million.
But the IPO’s success is now under threat after Microsoft, one of the data centre developer’s two largest customers, informed Nscale it
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