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Northern Data rallies after report it mulls AI unit IPO

** Shares in Northern Data NB2 jump as much as 26% after a media report that the Germany-based bitcoin miner is weighing a U.S. initial public offering for its artificial intelligence (AI) cloud computing and data center units

** Bloomberg News, citing people familiar with the matter, reported the units could be valued at as much as $16 billion

** Northern Data declined to comment

** "I think that's a bit high, especially since Coreweave has NVIDIA as a shareholder and OpenAI as a customer," Hauck Aufhäuser Investment Banking analyst Tim Wunderlich says referring to the $16 billion valuation

** Still, he notes that Northern Data is significantly undervalued and a Nasdaq IPO could correct this

** By 0829 GMT the stock is up around 23% to more than three-month highs

($1 = 0.9326 euros)

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