Nvidia-backed neocloud Nscale files for IPO at up to $35 billion valuation

jeremyakahn · x · 2026-09-25

Nscale, a two-year-old neocloud building AI compute infrastructure, has filed for a New York listing at a valuation of up to $35 billion, per the Financial Times, with Nvidia among its key backers — continuing the wave of AI compute companies going public.

The same Fortune newsletter also notes: Google says Gemini 4 is coming soon; Altman and Amodei urged the UN to cooperate on AI safety; and China is edging ahead in the global AI talent race.

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