Nvidia-Backed Nscale Seeks Up to $35 Billion Valuation in US Listing Bid

Nscale, an AI infrastructure company backed by Nvidia, has initiated its US listing process. The UK-based firm is seeking to raise more capital for its global data center expansion and is expected to list on the New York Stock Exchange under the ticker symbol 'NSCL.'

The registration statement has not yet become effective, and the final listing timing remains subject to regulatory review and market conditions. Goldman Sachs, JPMorgan, and Morgan Stanley will serve as lead underwriters.

Nscale's valuation could reach up to $35 billion in this IPO, according to the Financial Times citing people familiar with the matter. The company has already raised over $3.7 billion in equity financing and more than $5 billion in debt capital.