AI cloud firm Nscale is in talks with investors to raise as much as $3.5 billion in pre-initial public offering financing, ahead of a planned US listing, according to people familiar with the matter.
Bloomberg reports the company is discussing the funding amount with potential investors but does not detail the specific backers or instrument mix. The Next Web says the talks include Nvidia and Third Point and describes a structure combining about $1.5 billion of convertible notes led by Third Point with roughly $2 billion from Nvidia. The Next Web also adds that Nscale is briefing investors on total contracts of about $103 billion, attributing much of the growth to a $45 billion deal with Anthropic that, the outlet reports, Microsoft and Google passed on.
Across the coverage, the common points are Nscale’s size of fundraising discussions, its pre-IPO timing, and its AI-focused cloud business; the differences are primarily on who is involved, the proposed financing structure, and claims about the drivers of contract growth.
