Nvidia-backed Nscale files for NYSE IPO, reveals $103.4B contract value
IanAndrewsDC · x · 2026-09-19
UK-based AI cloud company Nscale has filed for a NYSE IPO under the ticker $NSCL.
- Total contract value hit $103.4B as of Aug 31, up from $38B at the end of 2025 — though these are multi-year contract amounts, not annual revenue or collected cash.
- An Aug 25 agreement with Anthropic covers up to $44.6B of Nvidia Vera Rubin systems at Nscale's planned West Virginia campus.
- Key risk disclosure: Nscale says it has no binding financing commitments yet for the Anthropic buildout, and the agreement includes termination rights if financing isn't secured.
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