Nscale, a British AI infrastructure company founded just two years ago, has said it may go public as early as later this month. Ahead of that expected IPO, the company is reportedly in talks to raise an additional $3.5 billion.
Bloomberg reported that Nscale is looking to sell $1.5 billion in convertible notes to a group of investors, while also seeking an additional $2 billion in financing from Nvidia. Nvidia also participated in the firm's Series B funding round in March, a $1.1 billion raise led by investment fund Aker that Nscale hailed as the largest Series B in European history.
AI infrastructure startups have seen immense growth amid the current era of AI enthusiasm, wherein compute has become a competitive currency. Nscale recently signed a large deal with Anthropic worth approximately $45 billion. Reports emerged that Nscale had been telling potential investors it has approximately $103 billion in revenue following the deal — though that figure is a projection based on signed customer leases, not current sales.
