Nscale seeks $3.5B in pre-IPO financing
Original: AI compute provider Nscale is looking for $3.5B in pre-IPO financing
Why This Matters
Nscale's rapid growth highlights surging demand for AI infrastructure and European compute capacity at scale.
British AI infrastructure startup Nscale, founded two years ago, is in talks to raise $3.5B ahead of a potential IPO as early as September 2026. Plans include $1.5B in convertible notes and $2B in financing from Nvidia, per Bloomberg.
Nscale, a UK-based AI compute provider founded approximately two years ago, is reportedly seeking $3.5 billion in pre-IPO financing as it prepares for a potential public listing as early as September 2026. According to Bloomberg, the company is in talks to sell $1.5 billion in convertible notes to a group of investors, while also pursuing $2 billion in additional financing from Nvidia. Nvidia previously participated in Nscale's Series B round in March 2026, a $1.1 billion raise led by investment fund Aker, which Nscale described as 'the largest Series B in European history.' The company's Series A in December 2024 raised $155 million. Nscale recently signed a major deal with Anthropic valued at approximately $45 billion, and has reportedly told potential investors it holds around $103 billion in projected revenue — a figure based on signed customer leases rather than current sales, according to The Information. TechCrunch reached out to both Nscale and Nvidia for comment.