Nick Clegg could make £30m windfall from datacentre startup Nscale flotation
Summary
Nick Clegg could make about £30 million from the planned stock market listing of Nscale, a UK-based datacentre company. Nscale is preparing to list on a US stock exchange, with an estimated company value as high as $35 billion.Key Facts
- Nick Clegg owns over 917,000 shares in Nscale, about 0.12% of the company.
- Nscale aims for a $35 billion valuation in its upcoming stock market float.
- If the float hits this target, Clegg’s shares could be worth around $42 million (£30 million).
- Nscale was last valued at $14.6 billion, meaning current share values are lower.
- Sheryl Sandberg, a board member, owns 0.25% of Nscale, worth about $88 million at a $35 billion valuation.
- Nscale reported a loss of $1 billion on revenues of $140 million in the first half of the year.
- The company is investing heavily in AI-related infrastructure, which is expensive to build.
- Nscale operates five datacentres in Europe and has 12 more being built, including sites in the US.
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