Key facts
- Nscale's revenue surged 1,252% to $140.6 million in the first half of 2026.
- The company posted a net loss of $1.02 billion in the first half of 2026.
- Nscale plans a U.S. IPO targeting a valuation of about $30 billion.
- The company operates in 14 regions and has a power pipeline exceeding 10 gigawatts.
- Nscale aims to list on the NYSE under the symbol "NSCL."
AI cloud infrastructure provider Nscale has revealed a significant revenue surge in its filing for a U.S. initial public offering, despite choppy market conditions. The British company reported its revenue jumped 1,252% to $140.6 million in the first half of 2026, compared to $10.4 million in the same period a year prior. However, Nscale also posted a net loss of $1.02 billion for the six months ended June 30, an increase from a $368.9 million loss a year earlier.
Nscale, which plans to sell new shares, is targeting a multi-billion dollar listing and a valuation of approximately $30 billion. The company's cloud platform offers infrastructure for training and running AI models, operating across 14 regions with a power pipeline exceeding 10 gigawatts. Since its 2024 launch, Nscale has scaled to over $103 billion in total contracted value from $100 million.
The planned IPO comes as investor sentiment is weighed down by rising bond yields and uncertainty surrounding the Federal Reserve's monetary policy. The listing will test appetite for AI infrastructure stocks, particularly after recent calls from AI lab CEOs for a slowdown in the technology's development. Goldman Sachs, J.P. Morgan, and Morgan Stanley are the lead underwriters for the offering, with Nscale intending to list on the NYSE under the symbol "NSCL."