Nvidia-backed AI cloud firm Nscale reveals revenue surge in US IPO filing - CNA

ChannelnewsasiaSaturday, September 19, 20263h agoWIRE COPY

Nscale, a Nvidia-backed UK cloud provider, reported a 1,252% revenue surge to $140.6 million for H1 2026 while swinging to a net loss of $1.02 billion, as it files for a multibillion-dollar NYSE listing aiming around a $30 billion valuation. The company, which has over $100 billion in contracted revenue and large deals like Anthropics’ $45 billion spend, plans to issue new shares and recently raised $3.1 billion in convertible bonds; its top customer accounted for about 52% of H1 2026 revenue, with expectations of Microsoft and Anthropic as future major customers.

Nvidia-backed AI cloud firm Nscale reveals revenue surge in US IPO filing - CNA # Nvidia-backed AI cloud firm Nscale reveals revenue surge in US IPO filing Nscale logo is seen in this illustration taken, September 5, 2026. REUTERS/Dado Ruvic/Illustration 19 Sep 2026 04:00AM (Updated: 19 Sep 2026 05:40AM) Sept 18 : Nscale, a British cloud provider backed by chip giant Nvidia, said on Friday its revenue surged 1,252 per cent in the first half of 2026, as it looks to tap investor appetite for AI stocks. The London-based company posted a net loss of $1.02 billion on revenue of $140.6 million in the six months ended June 30, compared with a net loss of $368.9 million on revenue of $10.4 million a year earlier, according to its IPO filing. The listing is set to test investor appetite for AI infrastructure stocks after calls from CEOs of top AI labs earlier this month for slowdown in the development of the technology rattled markets. "The setup for AI infrastructure is good enough to get these deals done, but it's nothing like the euphoria of a few months ago," said Matt Kennedy, senior ‍strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "Neocloud players seem to be holding up better than the AI infrastructure stocks that sit further up the supply chain." Cloud provider Nebius this week unveiled price hikes, while CoreWeave said it continues to sign contracts at higher prices, underscoring solid demand for computing capacity. Nscale, which plans to sell new shares, is targeting a multibillion-dollar listing and a valuation of about $…

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name: Nscale Cloud
ticker: $NSCALE
description: Nvidia-backed cloud provider Nscale has revealed a massive revenue surge in its US IPO filing targeting a thirty billion dollar valuation, reports CNA.

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