Nscale seeks up to $3 billion in US IPO amid AI data center expansion

The London-based company has about $51 billion in contracted revenue and plans to add 10 gigawatts of power capacity

Nscale is seeking to raise as much as $3 billion in a US initial public offering, according to people familiar with the matter, joining a wave of AI data center companies tapping public markets.

The London-based company could pursue the listing as soon as September and is working with Goldman Sachs and JPMorgan on the potential IPO, Bloomberg reported. The plans could change or be delayed, and Nscale declined to comment.

Nscale is developing data centers in Norway and West Virginia and has told prospective investors it has about $51 billion in total contracted revenue. Its board includes former Meta executives Sheryl Sandberg and Nick Clegg.

The company is working to add 10 gigawatts of power capacity to 831 megawatts of active and contracted power. AI data center operators are spending heavily on chips and equipment to lease computing capacity.

Nscale agreed in July to buy software startup Anyscale for $1.65 billion, a deal intended to help customers use AI computing power more efficiently.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Nscale is seeking to raise as much as $3 billion in a US initial public offering, according to people familiar with the matter, joining a wave of AI data center companies tapping public markets.

Nscale agreed in July to buy software startup Anyscale for $1.65 billion, a deal intended to help customers use AI computing power more efficiently.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Nscale seeks up to $3 billion in US IPO amid AI data center expansion

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