NSCALE FILES FOR U.S. IPO, PLANS NYSE LISTING UNDER $NSCL $NVDA Backed Nscale has filed its S-1 with the SEC for an IPO of ordinary shares and plans to list on the NYSE under ticker NSCL. Goldman Sachs, J.P. Morgan and Morgan Stanley are lead bookrunners. The share count and price range have not yet been disclosed. A few key numbers behind the Nvidia-backed AI infrastructure company: - Microsoft: Nscale has agreements to deploy roughly 200,000 Nvidia GB300 GPUs across the U.S., UK, Portugal and Norway. The rollout includes ~104,000 GPUs at a 240MW Texas campus alone. - Anthropic: roughly $45B, six-year compute deal covering about 460MW in West Virginia. - OpenAI: Nscale is part of Stargate Norway, targeting 100,000 Nvidia GPUs, and Stargate UK, where OpenAI has explored offtake of up to 31,000 GPUs. - Figure: initial $3.5B compute commitment, with plans that could scale above $6B and up to 100,000 Vera Rubin GPUs. Nscale recently told prospective investors it had about $103B in total contracted revenue, with contracts averaging 5.7 years, though that figure was described as illustrative rather than formal revenue guidance. The company was valued at $14.6B after raising $2B in March, with investors including Nvidia, Dell, Nokia, Citadel, Jane Street and Point72.