Microsoft reportedly exits Nscale's UK data centre deal ahead of IPO

Microsoft has pulled out of anchoring Nscale's first British data centre in Loughton, Essex, weeks before the AI cloud startup's IPO. Nscale aims to raise up to $3bn, with Microsoft and Anthropic accounting for about 85% of its contracts. Grid power for the site is not expected until the 2030s.

• Nscale is seeking to raise up to $3bn in an IPO as soon as this month
• Microsoft and Anthropic account for about 85% of Nscale's contracts
• Anthropic agreed in August to spend $45bn on Nscale compute over six years
• Nscale's flagship Norway site is six months late, running 6.4 MW of a planned 30 MW