Nvidia-Backed Cloud Firm Nscale Sees Revenue Soar 1,252% Amid AI Infrastructure Boom

Nscale, a British cloud provider backed by chip giant Nvidia, revealed significant revenue growth in its first-half results. The company's revenue surged 1,252% to $140.6 million in the six months ended June 30, compared with $10.4 million a year earlier.

Despite this impressive growth, Nscale reported a net loss of $1.02 billion, which is largely due to its rapid expansion and investments in infrastructure.

The company's largest customer accounted for 52% of its revenue in the first half of 2026, highlighting its reliance on a limited number of clients.

Nscale plans to list on the NYSE under the symbol 'NSCL' and is targeting a multibillion-dollar listing with a valuation of about $30 billion.