Nscale seeks $3.5B ahead of possible IPO this month
The two-year-old British AI infrastructure firm is in talks for $1.5B in convertible notes plus $2B from Nvidia, Bloomberg reported.
Nscale, a British AI infrastructure company, says it may go public as early as later this month. Bloomberg reported Friday that ahead of the listing the firm is in talks to raise an additional $3.5 billion.
The package has two parts: $1.5 billion in convertible notes, a loan that can later convert into stock, sold to a group of investors, and a separate $2 billion in financing from Nvidia.
Four rounds in two years
Nvidia also took part in Nscale's Series B in March, a $1.1 billion round led by investment fund Aker that the company called "the largest Series B in European history." Its Series A, in December 2024, raised $155 million. Nscale was founded only two years ago.
The company recently signed a deal with Anthropic worth roughly $45 billion. Reports this week said Nscale has been telling potential investors it has around $103 billion in revenue following that agreement. According to The Information, the figure is not current sales but a projection based on signed customer leases.
AI infrastructure startups have grown quickly as compute turned into a competitive currency. Pricing and a firm date for the listing have not been disclosed.
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