Business
Nscale files for US IPO seeking up to $35bn valuation
September 22, 2026 at 07:59 PM
UK-based AI datacentre company Nscale has filed for a US flotation, planning a New York Stock Exchange listing at a valuation of up to $35bn.
- Nscale filed flotation papers in the US on 18 September, seeking a $35bn valuation and aiming to raise $3bn in the offering.
- About 85% of Nscale's reported $103bn in contracts comes from compute supply agreements with Microsoft and Anthropic.
- The company reported a net loss of $1.02bn on revenue of $140.6m in the six months to 30 June.
- CEO Josh Payne said Nscale is positioned to serve European demand for sovereign AI infrastructure.