Nscale, an AI infrastructure company based in the United Kingdom, has announced it is seeking $3.5 billion in pre-IPO financing. The company, which was founded just two years ago, may go public as early as later this month. Bloomberg reported that Nscale is in talks to raise $1.5 billion in convertible notes and an additional $2 billion from Nvidia.
The company recently raised $1.1 billion in its Series B funding round, led by investment fund Aker, and previously secured $155 million in its Series A round in December 2024. Nscale described its Series B round as "the largest Series B in European history." Nvidia also participated in the Series B round, according to the report.
Nscale has signed a major deal with Anthropic worth approximately $45 billion. The company recently told potential investors it has projected revenue of about $103 billion following the deal, according to The Information. This figure is based on signed customer leases, not current sales.
"The largest Series B in European history," said Nscale in reference to its funding round. The company highlighted its growth amid the current AI enthusiasm, where compute has become a competitive currency. Nscale’s expansion is part of a broader trend in AI infrastructure startups.
The announcement follows reports that Nscale has been projecting significant revenue growth following its deal with Anthropic. The company did not specify the exact timeline for its IPO, and the financial details remain under discussion. Nscale is preparing for its potential public offering in the coming weeks.
Source: techcrunch
