Nscale's updated IPO filing shows $5.5 billion of debt and a $1.7 billion nine-month loss
Nov 14, 2026
Data Centers
Nscale Raises $3.36 Billion in Convertible Financing Before IPO
Sep 26, 2026
Nscale raised $3.36 billion through convertible loan notes led by Third Point, with backing from NVIDIA and other investors.
Nscale announced in a press release a $3.36 billion financing through convertible loan notes led by Third Point. Investors include NVIDIA, funds managed by Apollo Global Management, Citadel, Hudson Bay Capital, Abu Dhabi Investment Council and 8090 Industries.
The financing includes an initial $2.36 billion tranche at closing and a further $1 billion commitment from NVIDIA expected in mid November 2026. The notes will automatically convert into ordinary shares when Nscale completes its initial public offering, while NVIDIA will receive nonvoting shares.
Nscale will use the capital to expand its AI cloud platform, including power plants, liquid cooled AI data centers and large scale GPU clusters. The company said it has more than $103 billion in total contracted value.
Part of
Nscale IPO
- Nov 14 Nscale's updated IPO filing shows $5.5 billion of debt and a $1.7 billion nine-month loss
- Oct 19 Nscale investors push for lower IPO valuation
- Sep 19 Nscale Files for US Initial Public Offering
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