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

Nscale, an AI-focused cloud provider backed by Nvidia, disclosed a staggering 1,252 percent revenue increase in its first half of 2026 IPO filing, despite posting a $1.02 billion net loss. The London-based firm reported $140.6 million in revenue, up from $10.4 million the previous year, as cited in its IPO paperwork. The company is aiming for a multibillion-dollar listing with a valuation around $30 billion, as per CNBC.

Nscale's infrastructure, encompassing compute, power, and data centers, as well as software for AI model training and execution, spans 14 regions and boasts a power pipeline exceeding 10 gigawatts. The company's rapid growth, scaling from $100 million to over $103 billion in total contracted value within two and a half years, underscores its competitive position in the AI infrastructure market.