Nscale Files for IPO After 1,252% Revenue Surge

Nvidia-backed cloud provider Nscale has filed for an IPO, revealing a stunning revenue surge in its first half of 2026. The London-based company's revenue jumped 1,252% to $140.6 million in the six months ended June 30, despite a net loss of $1.02 billion.

Nscale plans to sell new shares and is targeting a multibillion-dollar listing with a valuation of around $30 billion. This figure is significantly higher than its March funding round valuation of $14.6 billion.

The company's growth has been rapid, scaling from $100 million in contracted value to over $103 billion in just two and a half years. Nscale provides infrastructure for AI computing, including data centers, software, and power supply, operating in 14 regions worldwide.