Nvidia-Backed Nscale Files for NYSE IPO Amid Explosive Demand for Computing Power

Nscale, an Nvidia-backed British AI infrastructure provider, has filed for an initial public offering (IPO) on the New York Stock Exchange under the ticker 'NSCL'.

The company reported $140.6 million in revenue for the six months ended Jun. 30, a 1,252% increase from the same period last year.

However, Nscale's net losses also increased to $1.02 billion compared with $368.9 million a year earlier.

The company has big-name backers, including Nvidia and Microsoft, and competes with Amazon and other neocloud providers such as CoreWeave and Nebius.