NVIDIA-Backed Nscale Files for $35 Billion IPO in US

Nscale, a UK-based AI cloud service provider backed by NVIDIA, has filed for an IPO in the United States. The company plans to list on the New York Stock Exchange under the ticker symbol 'NSCL' and is seeking a valuation of up to $35 billion.

The IPO filing comes after Nscale announced its intention to raise funds through a listing in July. The company has applied for an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) and has appointed Goldman Sachs, JPMorgan, and Morgan Stanley as joint book-running managers.

NVIDIA has invested over $2 billion in Nscale and has signed a $1.2 billion capacity lease agreement with the company. The GPU supplier is also both a customer and a partner of Nscale, providing significant financial support to the firm.