The $1.2 Billion AI IPO You've Never Heard Of--Until Now

NIQ Global Intelligence Plc (NIQ) is gearing up for a U.S. IPO that could raise as much as $1.2 billion, as investor appetite for data and AI platforms continues to build. The companyformerly Nielsen's consumer intelligence armis offering 50 million shares at $20 to $24 each, implying a potential valuation of $7.08 billion at the top end. NIQ was acquired in 2021 by Advent International and former TransUnion CEO Jim Peck for $2.7 billion. Peck now leads as CEO and chairman, alongside a heavyweight roster of backers including KKR and the Nuremberg Institute for Market Decisions.

Since the deal, NIQ has been on a full-throttle modernization drive. It's invested around $400 million into tech upgrades, executed nine acquisitions, and slashed its cost base by over 20%. Most notably, it has built a sprawling data engine that taps into retailer point-of-sale systems, e-commerce platforms, loyalty programs, and proprietary panels with over 5.5 million consumers. Much of that data is now processed through AI systems built in partnership with Microsoft and Snowflakepositioning NIQ as a modern, automated layer between consumer behavior and business decisions.

Financially, it's a mixed picture. NIQ posted a Q1 net loss of $73.7 million on $966 million in revenuean improvement from the $174 million loss a year earlier. It still carries $4.3 billion in debt but reported adjusted EBITDA of $740.7 million in 2023. The offering is being led by JPMorgan JPM, BofA BAC, UBS UBS, Barclays, and RBC, with the stock set to list on the NYSE under the symbol NIQ. For investors watching the AI data stack and retail digitization theme, NIQ could be one to watch as enterprise spending pivots toward faster, smarter consumer insights.