Data Center Darling’s $30 Billion IPO Dream Crushed in 48 Hours
THE SO WHAT
A data center IPO going from a $30B “AI boom” darling to a flop in 48 hours is a warning that public markets are no longer buying any story tied to AI infrastructure at any price. If you’re in the AI-adjacent capex chain—power, land, racks—assume valuation discipline is back and plan funding with more conservative multiples.
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