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Nscale files for US IPO targeting $35 billion valuation
Nscale, a London-based AI infrastructure and data center provider, has filed for an initial public offering (IPO) on the New York Stock Exchange under the ticker symbol NSCL. The company is reportedly targeting a valuation as high as $35 billion and aims to raise between $2 billion and $3 billion.
Despite rapid growth, Nscale's financial filings reveal significant operational costs. For the first half of 2026, the company reported revenue of $140.6 million—a 1,252% increase from the same period the previous year—but recorded a net loss of $1.02 billion. The company's total contract value (TCV) has reached $103.4 billion as of August 31, 2026, driven by long-term agreements with major technology players.
Nscale maintains strategic partnerships with companies including Microsoft, Anthropic, Nvidia, and OpenAI. The firm is backed by Norwegian industrial investor Aker ASA, which holds a 23.9 percent stake. The IPO is being led by a group of major underwriters, including Goldman Sachs, J.P. Morgan, and Morgan Stanley.
Entities
Aker ASA · Goldman Sachs · JPMorgan Chase & Co. · Microsoft · Morgan Stanley · Nscale · SEC
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 8 SOURCES] Nscale reported $140.6 million in revenue and a net loss of $1.02 billion for the six months ending June 30, 2026. www.europesays.com · nosmokesport.com · world-today-journal.com · fourweekmba.com · newsable.asianetnews.com · +3 more
- [● 2 SOURCES] The company is targeting a valuation as high as $35 billion. nosmokesport.com · themarketperiodical.com
- [● 5 SOURCES] Goldman Sachs, J.P. Morgan, and Morgan Stanley are among the lead underwriters for the offering. www.europesays.com · nosmokesport.com · world-today-journal.com · fourweekmba.com · newsable.asianetnews.com
- [● 10 SOURCES] Nscale has filed for an initial public offering on the New York Stock Exchange under the ticker symbol NSCL. www.europesays.com · nosmokesport.com · world-today-journal.com · www.it-boltwise.de · fourweekmba.com · +5 more
- [● 5 SOURCES] Nscale reported a total contract value (TCV) of $103.4 billion as of August 31, 2026. nosmokesport.com · fourweekmba.com · themarketperiodical.com · newsable.asianetnews.com · siliconangle.com
- [○ 1 SOURCE] Aker ASA holds a 23.9 percent stake in Nscale. world-today-journal.com
- [● 4 SOURCES] The company is reportedly seeking to raise between $2 billion and $3 billion through the IPO. www.europesays.com · nosmokesport.com · newsable.asianetnews.com · siliconangle.com
- [● 5 SOURCES] Nscale maintains partnerships with major technology firms including Microsoft, Anthropic, and Nvidia. www.europesays.com · world-today-journal.com · fourweekmba.com · newsable.asianetnews.com · siliconangle.com