Base Electron confidentially files for US IPO

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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