AI data center company Nscale files for US IPO, Nvidia holds over 5% stake | Bitget News

London-based AI data center operator Nscale has formally filed for a US initial public offering on the New York Stock Exchange to raise up to $3 billion under the ticker symbol NSCL. Spun off from a cryptocurrency mining business in early 2024, the company achieved a Series C valuation of $14.6 billion. Its board of directors includes prominent figures such as former Meta executive Sheryl Sandberg and former UK Deputy Prime Minister Nick Clegg.

As of August 2026, Nscale controls over 10 gigawatts of power capacity across facilities in Norway, Portugal, Texas, and West Virginia, backed by a total contract value of roughly $103 billion. A major driver of this portfolio is a $45 billion leasing commitment from AI startup Anthropic for the flagship Monarch Compute Campus in West Virginia. Financially, rapid revenue growth to $140.6 million for the six months ended June 30 has been accompanied by a widening net loss of $1.02 billion due to heavy capital investments.

Nvidia holds a stake of over 5% in non-voting shares resulting from warrants issued during Nscale's Series B funding round, and the company is slated to issue up to an additional $1 billion in unsecured convertible notes or non-voting shares to Nvidia. Beyond hardware infrastructure, Nscale expanded into software by acquiring Anyscale for $1.65 billion in July 2026 to improve client efficiency in utilizing AI compute resources.