London-based neocloud Nscale has filed to go public on the New York Stock Exchange after expanding rapidly on the back of the AI infrastructure boom.
The document does not specify the number of shares it'll offer, their expected price, or the valuation Nscale hopes to achieve.The Financial Times before reported that the company was targeting a valuation of up to $35 billion.
Nscale reported $103.4 billion in active and contracted total contract value as of August 31, up from $38 billion at the end of 2025.
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Summarized version
The rent-a-GPU business filed a Form S-1 registration statement with the US Securities and Exchange Commission (SEC) on Friday. Agreements with Anthropic account for up to circa $44.6 billion.
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Rent-a-GPU firm reportedly seeks a valuation of up to $35B in New York IPO.
London-based neocloud Nscale has filed to go public on the New York Stock Exchange after expanding rapidly on the back of the AI infrastructure boom.
The rent-a-GPU business filed a Form S-1 registration statement with the US Securities and Exchange Commission on Friday.
The document does not specify the number of shares it'll offer, their expected price, or the valuation Nscale hopes to achieve.The Financial Times before reported that the company was targeting a valuation of up to $35 billion.
Revenue surged from $10.4 million to $140.6 million in the six months to June 30, but its net loss widened from $368.9 million to $1.02 billion over the same period.
Nscale reported $103.4 billion in active and contracted total contract value as of August 31, up from $38 billion at the end of 2025. Agreements with Anthropic account for up to circa $44.6 billion, although Nscale said it had not secured binding commitments for the financing needed to fulfill them.
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