Nscale Eyes $3.5B Pre-IPO Raise With Nvidia Backing — SkimNews
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- Nscale is in talks to raise $3.5 billion ahead of a potential IPO as early as this month, per Bloomberg.
- The raise includes $1.5 billion in convertible notes from a group of investors plus $2 billion in financing from Nvidia, which also participated in Nscale's $1.1 billion Series B in March.
- Nscale's March Series B was led by investment fund Aker and was dubbed "the largest Series B in European history" by the company; its December 2024 Series A raised $155 million.
- Nscale signed a deal with Anthropic worth approximately $45 billion, and has been telling potential investors it has roughly $103 billion in revenue following that deal.
- The Information reported that $103 billion figure is a projection based on signed customer leases, not current sales.
- The two-year-old British firm operates in an AI infrastructure sector where compute has become "a competitive currency," per the source.
Why it matters: Nvidia is doubling down on Nscale with $2 billion on top of its March Series B participation, deepening ties to an AI compute provider that recently told investors it has ~$103 billion in revenue — though that figure is a projection from signed customer leases, not actual sales. With a potential IPO landing as soon as this month, the $3.5B raise is timed to capitalize on surging demand for AI infrastructure.
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