Nscale Files for US IPO to Capitalize on AI Data Center Demand
London-based Nscale, a data center firm focused on artificial intelligence infrastructure with backing from Nvidia Corp. and Microsoft Corp., has filed for an initial public offering in the United States. The company aims to raise up to $3 billion through its New York listing as it seeks to meet growing demand for computing power driven by AI development. Nscale, which spun off from a cryptocurrency mining operation in 2024 and is now valued at around $14.6 billion following a Series C funding round led by Aker ASA and 8090 Industries, reported significant financial losses despite rising revenue over the past six months. The firm has expanded its operations across Europe with facilities in Norway, Portugal, Iceland, and the UK, as well as US locations including West Virginia and Texas. The IPO is being managed by Goldman Sachs Group Inc., JPMorgan Chase & Co., and Morgan Stanley, with shares expected to trade under the symbol NSCL. Nscale has also agreed to acquire Anyscale for $1.65 billion in a bid to enhance AI computing efficiency.
Topics: AI infrastructure data centers IPO Nscale