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AI cloud provider Nscale files for U.S. IPO

The Financial Times reports that the British data center group filed for a $35 billion U.S. listing and has won a major contract to supply computing power to Anthropic.

CNBCCN
Financial TimesFT
SiliconANGLESI
12 Sources, 21d ago, first seen 21d ago

TLDR

CNBC reported on September 18, 2026, that Nscale had filed to go public. SiliconANGLE says the IPO filing follows a multibillion-dollar Anthropic deal. Techstrong.ai reports that Nscale reported $103.4 billion in active and contracted value alongside a $1.02 billion first-half loss.

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207.5K

12 Sources, first seen 21d ago

192 likes27 comments45 saves39 reposts

Combined views

207.5K

12 Sources, first seen 21d ago

192 likes27 comments45 saves39 reposts

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Nvidia-backed Nscale reportedly files for NYSE IPO targeting roughly $30 billion valuation

A post says the AI data center company aims to raise $3 billion, counts Microsoft as a major customer and has signed a $45 billion capacity deal with Anthropic.

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12 Sources

CNBC@CNBCAI cloud provider Nscale files to go public https://www.cnbc.com/2026/09/18/nscale-ai-cloud-provider-ipo-nscl.html?taid=6aad9b4d4ca3b500013d502b&utm_campaign=trueanthem&utm_content=main&utm_medium=social&utm_source=twitter21d
Financial Times@FTBritish data centre group Nscale files for $35bn US listing https://ft.trib.al/gqEGJBF21d
SiliconANGLE@SiliconANGLEData center builder Nscale files for IPO after multibillion-dollar Anthropic deal https://ift.tt/w34slDe21d
Techstrong.ai@TechstrongaiNscale filed for a U.S. IPO after securing major AI compute deals, reporting $103.4B in active and contracted value alongside a $1.02B first-half loss. Read more: https://buff.ly/XugK5qi #Nscale #AIInfrastructure #IPO #CloudComputing21d
Perspez@perspezFIRMUS AND NSCALE MOVE TOWARD PUBLIC MARKETS Two large AI infrastructure platforms are preparing for public listings. Firmus is targeting an approximately A$7B / $5B IPO in Australia, with bookbuilding expected to begin October 6. Nscale, backed by Nvidia, filed for a U.S. IPO last week and plans to list on the NYSE under $NSCL. FIRMUS • 900+ MW contracted capacity • OpenAI added as an anchor customer • Seven AI factories across Australia, Singapore, Indonesia and Malaysia • Two sites operational, five under development • Deploying NVIDIA Vera Rubin NVL72 infrastructure • Planned IPO of roughly $5B NSCALE • 10 GW+ owned and controlled power pipeline • 1.37 GW active and contracted capacity • 461,000 active and contracted GPUs • $103.4B active and contracted total contract value • 17 active or contracted data center sites • H1 2026 revenue of $140.6M, up 1,252% YoY • Planned ticker: $NSCL Nscale’s filing shows how quickly the platform has expanded. Its power pipeline has grown from roughly 750 MW to more than 10 GW, while active and contracted total contract value has increased from about $100M to $103.4B in roughly two and a half years. Firmus is building across APAC, with OpenAI now anchoring capacity in Malaysia and Nvidia systems forming the compute layer across the platform. The two listings would follow another major capital raise in the sector: Crusoe’s $3.9B Series F earlier this month. Private AI infrastructure platforms are now starting to test public equity markets with a different set of headline metrics than traditional software companies: power under control, contracted megawatts, GPU capacity and long-duration customer commitments.19d
The Longer View@TheLongerView_Nscale just filed for its IPO on Friday, Sept. 18. The numbers are wild: $140.6M revenue in H1 2026 (+1,252% YoY), a $1.02B net loss, a 10+ GW power pipeline and more than $103B of contracted revenue/value. Anthropic alone represents a reported ~$45B deal, while Nvidia has invested $2B+ and recently joined a $3.1B convertible financing. The catch? Only 55 MW is currently operational or leased. So there’s a massive gap between what’s contracted and what’s actually built. Still early, still risky… but this is exactly the kind of company that makes the AI infrastructure boom fascinating. I’ll definitely dig deeper when the IPO pricing is out19d
brent smith@brent_rc1a) Anyscale isn't in these numbers at all The S-1's financials run through H1 2026. Nscale's Anyscale acquisition closes at IPO. So it didn't affect the financial position or results of operations for the periods presented, and will only show up in subsequent filings.19d
Tech Funding News@TFNBreakingNews🇬🇧 @nscale has filed an S-1 with the Securities and Exchange Commission, putting the company on a path to list on the New York Stock Exchange under the ticker NSCL. https://techfundingnews.com/nvidia-backed-british-ai-unicorn-nscale-files-for-wall-street-ipo-after-14-6b-valuation #uktech #valuation #ai #technology #innovation #ipo #unicorns18d
Techmeme@TechmemeNscale's S-1: Microsoft and Anthropic account for 85% of its $103B in total contract value, only $2.6B of contract value was active as of late August, and more (Bloomberg) (Visit Techmeme dot com for the link and full context!)18d
Axios@axiosNScale IPO filing highlights AI's circular economy https://www.axios.com/2026/09/21/nscale-ipo-nvidia-artificial-intelligence?utm_campaign=mrf-utm_campaign=editorial&utm_source=x&utm_medium=owned_social&utm_source=twitter&utm_medium=social&mrfcid=202609216aae41027ebd40685a10f94d18d
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    12 Sources

    CNBC@CNBCAI cloud provider Nscale files to go public https://www.cnbc.com/2026/09/18/nscale-ai-cloud-provider-ipo-nscl.html?taid=6aad9b4d4ca3b500013d502b&utm_campaign=trueanthem&utm_content=main&utm_medium=social&utm_source=twitter21d
    Financial Times@FTBritish data centre group Nscale files for $35bn US listing https://ft.trib.al/gqEGJBF21d
    SiliconANGLE@SiliconANGLEData center builder Nscale files for IPO after multibillion-dollar Anthropic deal https://ift.tt/w34slDe21d
    Techstrong.ai@TechstrongaiNscale filed for a U.S. IPO after securing major AI compute deals, reporting $103.4B in active and contracted value alongside a $1.02B first-half loss. Read more: https://buff.ly/XugK5qi #Nscale #AIInfrastructure #IPO #CloudComputing21d
    Perspez@perspezFIRMUS AND NSCALE MOVE TOWARD PUBLIC MARKETS Two large AI infrastructure platforms are preparing for public listings. Firmus is targeting an approximately A$7B / $5B IPO in Australia, with bookbuilding expected to begin October 6. Nscale, backed by Nvidia, filed for a U.S. IPO last week and plans to list on the NYSE under $NSCL. FIRMUS • 900+ MW contracted capacity • OpenAI added as an anchor customer • Seven AI factories across Australia, Singapore, Indonesia and Malaysia • Two sites operational, five under development • Deploying NVIDIA Vera Rubin NVL72 infrastructure • Planned IPO of roughly $5B NSCALE • 10 GW+ owned and controlled power pipeline • 1.37 GW active and contracted capacity • 461,000 active and contracted GPUs • $103.4B active and contracted total contract value • 17 active or contracted data center sites • H1 2026 revenue of $140.6M, up 1,252% YoY • Planned ticker: $NSCL Nscale’s filing shows how quickly the platform has expanded. Its power pipeline has grown from roughly 750 MW to more than 10 GW, while active and contracted total contract value has increased from about $100M to $103.4B in roughly two and a half years. Firmus is building across APAC, with OpenAI now anchoring capacity in Malaysia and Nvidia systems forming the compute layer across the platform. The two listings would follow another major capital raise in the sector: Crusoe’s $3.9B Series F earlier this month. Private AI infrastructure platforms are now starting to test public equity markets with a different set of headline metrics than traditional software companies: power under control, contracted megawatts, GPU capacity and long-duration customer commitments.19d
    The Longer View@TheLongerView_Nscale just filed for its IPO on Friday, Sept. 18. The numbers are wild: $140.6M revenue in H1 2026 (+1,252% YoY), a $1.02B net loss, a 10+ GW power pipeline and more than $103B of contracted revenue/value. Anthropic alone represents a reported ~$45B deal, while Nvidia has invested $2B+ and recently joined a $3.1B convertible financing. The catch? Only 55 MW is currently operational or leased. So there’s a massive gap between what’s contracted and what’s actually built. Still early, still risky… but this is exactly the kind of company that makes the AI infrastructure boom fascinating. I’ll definitely dig deeper when the IPO pricing is out19d
    brent smith@brent_rc1a) Anyscale isn't in these numbers at all The S-1's financials run through H1 2026. Nscale's Anyscale acquisition closes at IPO. So it didn't affect the financial position or results of operations for the periods presented, and will only show up in subsequent filings.19d
    Tech Funding News@TFNBreakingNews🇬🇧 @nscale has filed an S-1 with the Securities and Exchange Commission, putting the company on a path to list on the New York Stock Exchange under the ticker NSCL. https://techfundingnews.com/nvidia-backed-british-ai-unicorn-nscale-files-for-wall-street-ipo-after-14-6b-valuation #uktech #valuation #ai #technology #innovation #ipo #unicorns18d
    Techmeme@TechmemeNscale's S-1: Microsoft and Anthropic account for 85% of its $103B in total contract value, only $2.6B of contract value was active as of late August, and more (Bloomberg) (Visit Techmeme dot com for the link and full context!)18d
    Axios@axiosNScale IPO filing highlights AI's circular economy https://www.axios.com/2026/09/21/nscale-ipo-nvidia-artificial-intelligence?utm_campaign=mrf-utm_campaign=editorial&utm_source=x&utm_medium=owned_social&utm_source=twitter&utm_medium=social&mrfcid=202609216aae41027ebd40685a10f94d18d
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