Canadian data center operator QScale has launched a “strategic review” to secure continued growth, which could result in substantial investment from US banks.

In a statement provided to DCD, QScale said it had launched a “strategic review aimed at supporting its continued growth in Quebec and beyond.

“The process remains ongoing. Regardless of the path forward, QScale will remain a Quebec-based company, maintain operational independence, and continue to play a key role in advancing digital sovereignty.”

Yesterday, Le Journal de Québec reported that the Canadian operator was in discussions to be acquired by Goldman Sachs for $1.5 billion.

La Presse later expanded on this rumour, citing unnamed sources close to the situation, stating that QScale had approached twenty major American firms and investors for funding after lukewarm interest from local investors.

In this scenario, the transaction, previously reported as an acquisition, would be in the form of a reorganization of shareholding.

In comments to DCD, QScale did not explicitly confirm or deny these reports. Other than the provided statement, the company said it would not make public comments out of respect for the ongoing process.

QScale was founded in 2018 with the goal of providing high-performance computing and AI infrastructure.

The company has seen investment from Aligned Data Centers and the Québec government.

QScale began construction on its first campus, QScale Q01, in Levis, Quebec, in 2021. The construction of the second building began in 2022. The site is expected to have 142MW of IT capacity at full build-out.

The company has also announced plans for a second facility in the Ecoparc de Saint-Bruno-de-Montarville, Montreal.