Nscale Seeks $3.5B Pre-IPO Financing Amid IPO Plans

Nscale, a London-based AI cloud infrastructure company, is seeking $3.5 billion in pre-IPO financing, according to Reuters. The funding will come from convertible notes and Nvidia, with Third Point leading the investment.

The financing package includes up to $1.5 billion through convertible notes and about $2 billion from Nvidia. Goldman Sachs is working on the fundraising.

Nscale has briefed investors that its signed customer leases imply roughly $103 billion in projected revenue, not current sales. A significant portion of this figure comes from a six-year agreement with Anthropic to rent AI computing capacity, worth approximately $45 billion.