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VNet is in discussions with investors for a new round of financing, with a target valuation between $165 billion and $175 billion, and the earliest financing could start next month. Earlier this year, VNet completed approximately $5 billion in financing, with a valuation of approximately $134 billion. The company claims that its revenue operating rate has exceeded 5.4 billion US dollars, a year-on-year increase of 65%. CEO Ali Ghodsi told investors that the company plans to push for an IPO as early as next year.