4 September 2026

Nscale raises $3.5B before US stock market debut, backed by Nvidia and Third Point

• Nscale, a London-based company that rents computing power to AI companies, is seeking $3.5B in pre-IPO funding from Nvidia and investment firm Third Point before listing on US markets.
• The company told investors it has $103B in signed customer contracts, up from $51B four weeks prior, largely because of a $45B deal with Anthropic that Microsoft and Google rejected.
• Nscale projects $18.1B in annual revenue and $13.6B in adjusted earnings, though it describes these as illustrative; it actually generated $33M in revenue across 2025 and over $100M last quarter.
• Nvidia would invest roughly $2B alongside $1.5B in convertible notes led by Third Point, giving the chipmaker a stake in a major buyer of its GPUs worth about 194,000 units.
• The company operates European data centres funded by Nordic state lenders and Microsoft, and also counts Sheryl Sandberg and former UK deputy PM Nick Clegg on its board.

Reported by The Next Web, TechCrunch, Bloomberg