Nscale

On 2026-09-25 Nscale announced $3.36B of pre-IPO convertible financing led by hedge fund Third Point: $2.36B available immediately plus $1B from existing investor Nvidia to be received in mid-November, converting into equity when the IPO completes. The raise follows Nscale's S-1 filing for a NYSE listing, where it is reportedly targeting a ~$35B valuation and a ~$3B offering. The financing materially strengthens Nscale's balance sheet for data-center buildout ahead of its listing.

Source: Nscale

Nscale's 18 September 2026 IPO prospectus discloses revenue of $140.6M for the six months to 30 June 2026, up 1,252% from $10.4M a year earlier, against a net loss of $1.02B versus $368.9M in the prior-year period. It reports $56.4B of remaining performance obligations, more than $8B of debt excluding a Dell financing arrangement, one unnamed customer accounting for over half of first-half revenue, and an Nvidia guarantee of up to $860M on a Texas data-centre lease. This is the first audited view of Nscale's revenue scale, loss run-rate, customer concentration and backlog - the core inputs for pricing the company.

Source: CNBC

On 18 September 2026 Nscale Ltd (SEC CIK 0002110365) publicly filed a Form S-1 to list on the New York Stock Exchange under the ticker 'NSCL', and confirmed the filing on its own newsroom. The London-based AI cloud provider, which spun out of crypto miner Arkon Energy in 2024 and counts Nvidia, Blue Owl, Dell, Fidelity and Point72 among its investors, was last valued at $14.6B in a March 2026 round. A public S-1 converts Nscale from a private mark into a priced listing candidate and sets a near-term liquidity path for existing secondary holders.

Source: SEC EDGAR

Nscale and humanoid robotics firm Figure AI signed a strategic partnership worth about $3.5 billion covering up to 100,000 GPUs on NVIDIA's Vera Rubin platform, with Nscale also taking an equity stake in Figure.

Source: Figure

Nscale said its contracted revenue has roughly doubled to about $103 billion following the Anthropic compute deal, a figure disclosed as the company weighs a potential IPO.

Source: The Information

Anthropic has agreed to a roughly $45 billion deal for AI computing capacity at Nscale's Monarch Compute Campus in Mason County, West Virginia, according to reports confirmed by the state's governor.

Source: WV MetroNews

Nscale secured US$790 million in financing for its Norwegian data center project, with Latham & Watkins advising on the deal.

Source: Legal Desire