AI cloud provider Nscale files to go public
Nscale is the latest artificial intelligence neocloud to turn to public markets.
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.