Nscale files for IPO in New York to meet AI computing demand

Nscale, a London-based AI cloud infrastructure company founded just two years ago, has filed for an initial public offering on the New York Stock Exchange. The company is looking to raise up to $3 billion to fund its rapidly expanding operations in the AI computing space. The registration statement, filed with the SEC on September 18, lands the company in a growing queue of AI infrastructure firms trying to tap public markets while investor appetite for anything GPU-adjacent remains voracious. Nscale will trade under the ticker NSCL. Revenue is soaring, but so are losses The company posted $140.6 million in revenue during the first half of 2026, representing a 1,252% increase year over year. Nscale reported a net loss of $1.02 billion over the same six-month period. The company carries more than $8 billion in total debt. Its remaining performance obligations, essentially contracted future revenue, stand at $56.4 billion. A client list that reads like an AI all-star roster Microsoft, OpenAI, and Anthropic all count as Nscale clients. The Anthropic relationship alone is valued at $45 billion across a multi-year deal, making it one of the largest infrastructure contracts in the AI sec...