AI cloud provider Nscale files to go public

TL;DR

Nscale, an AI infrastructure cloud provider, has filed for an Initial Public Offering (IPO) on the New York Stock Exchange under the ticker symbol "NSCL."
The company reported $140.6 million in revenue for the first six months of 2026, a 1,252% increase from the previous year, but also a net loss of $1.02 billion.
Nscale rents Nvidia GPUs to AI companies such as OpenAI and Anthropic, meeting their high demand for computing capacity.
Competitors include major cloud providers like Amazon and newer AI-centric companies such as CoreWeave and Nebius.
The company has secured deals with key clients, including OpenAI, Anthropic, and Microsoft, and has over $56.4 billion in remaining performance obligations.
Nscale is expanding its services to include handling inference requests and plans to acquire Anyscale to enhance AI model construction.
Notable figures like Fidji Simo (formerly of OpenAI, Instacart, Meta) have joined its board, alongside former Meta executives Nick Clegg and Sheryl Sandberg.
As of August 31, Nscale operated 25,000 active GPUs across five active data center sites and has line of sight to 10 gigawatts of computing power.
The company, which emerged from Arkon Energy in 2024, has received investments from firms including Blue Owl, Dell, Nvidia, Fidelity, and Point72, and was valued at $14.6 billion in a March funding round.

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