AI cloud firm Nscale raises $3.36bn ahead of Nasdaq IPO

UK-based AI cloud Nscale has raised $3.36 billion in pre-IPO funding ahead of its Nasdaq listing. The round was led by hedge fund Third Point, with Nvidia, Apollo, Citadel and Abu Dhabi Investment Council participating. Nscale gets $2.36 billion up front, with another $1 billion from Nvidia due by mid-November 2026.

• Third Point led the round; Nvidia, Apollo and Citadel joined
• $2.36bn up front, plus $1bn from Nvidia by November 2026
• Revenue hit $140.6m in the half-year, losses grew to $1.02bn
• $103bn in contracted value, including Anthropic and Microsoft