Nscale Files for Wall Street IPO After $14.6B Valuation

Nscale, a London-based AI infrastructure company backed by Nvidia and valued at $14.6 billion, has filed for an initial public offering (IPO) on Wall Street.

The company reported revenue of $140.6 million in the first half of 2026, up from just $10.4 million in the same period a year earlier, but also incurred a net loss of $1.02 billion.

Nscale's IPO is being led by Goldman Sachs, JPMorgan, and Morgan Stanley, and the company plans to list on the New York Stock Exchange under the ticker NSCL.