Nscale Files for US IPO Amid AI Infrastructure Boom
Nscale, an Nvidia-backed cloud provider, has filed for a US IPO and revealed its revenue surged by 1,252% in the first half of 2026.
The company posted a net loss of $1.02 billion on revenue of $140.6 million in the six months ended June 30, compared with a net loss of $368.9 million on revenue of $10.4 million a year earlier, according to its IPO filing.
Nscale plans to sell new shares and is targeting a multibillion-dollar listing and a valuation of about $30 billion, CNBC reported. The firm was valued at $14.6 billion in a March funding round.
The company provides infrastructure for AI model training and running, including compute, power, and data centers, operating in 14 regions with over 10 gigawatts of power pipeline capacity.
AI lab Anthropic recently struck a deal to spend $45 billion renting cloud computing power from Nscale's West Virginia data center campus. Matt Kennedy, senior strategist at Renaissance Capital, noted that 'despite some negative headlines, this space is still attracting billions' and highlighted Nscale's over $100 billion in total contract value as a main selling point.