Aker rises 8% after Nscale wins $45 billion data centre contract
BUZZ-Aker rises 8% after Nscale wins $45 billion data centre contract ** Norwegian industrial investment company Aker's AKER.OL shares rise 8%, biggest gainer on European STOXX 600 index .STOXX
** SB1 Markets analyst Erik Aspen Fossa and Danske Bank analyst Vidar Skogset Lyngvaer point to Aker's portfolio company Nscale having signed a $45 billion AI data centre contract
** Arctic Securities analyst Lukas Daul highlights Nscale is nearly doubling its order backlog and gets a long-term contract for its largest facility in the U.S.
** Brokerage Danske Bank says the contract should be supportive of a valuation of more than $25 billion at the potential September Nscale IPO, and estimates an Nscale IPO valuation at $33.5 billion
** The contract indicates that compute demand has a longer runway than currently predicted, and that the supply side remains constrained, the brokerage says
** Aker's shares have more than doubled YTD
(Reporting by Alexander Klyve Gudbrandsen)
Recent news on Aker ASA
See all newsAker shares fall on worries over Nscale IPO valuation
Brief: Aker ASA: Conditions For Completion Of Merger With Aker Biomarine Satisfied
Brief: Nscale Files Registration Statement For Proposed IPO
European oil stocks gain as U.S.-Iran exchange attacks, crude rallies
Aker rises 8% after Nscale wins $45 billion data centre contract