Nscale Files for IPO, Aiming to Go Public on NYSE
Nscale, an AI cloud infrastructure provider spun out of cryptocurrency mining firm Arkon Energy, has filed for an initial public offering (IPO) under the ticker symbol NSCL. The company reported a $140.6 million revenue in the first six months of 2026—a 1,252% increase from the same period in 2025—though it also posted a net loss of $1.02 billion during that time. Nscale competes with major cloud providers like Amazon and newer AI-focused firms such as CoreWeave and Nebius. It has secured contracts with OpenAI, Anthropic, and Microsoft to provide Nvidia GPUs for training and running models. The company is also expanding its services by acquiring Anyscale in July 2026. Recent developments include the addition of Fidji Simo—former executive at Meta, Instacart, and OpenAI—to Nscale’s board.
