네오클라우드 제공업체인 Nscale이 사전 IPO 자금 조달을 위해 35억 달러를 모금 중이며, 최종 IPO 목표액은 30억 달러로 알려졌다.

AI infrastructure firm Nscale is pursuing $3.5 billion in pre-IPO financing, according to a Bloomberg report citing people familiar with the matter. The company plans to sell up to $1.5 billion in convertible notes to a group of investors and aims to secure the remaining $2 billion from Nvidia. Sources indicate the notes will be offered at an equivalent to the IPO price, minus a double-digit percentage discount. Third Point is leading the convertible investment, while Goldman Sachs is managing the fundraising effort.

This financing push follows reports that Nscale is targeting an initial public offering as soon as this month, which would aim to raise $3 billion. Speculation regarding a public listing has been mounting since October 2025, with the company hiring investment banks for the effort in February 2026. That same month, Nscale signed a $1.4 billion delayed draw term loan backed by its GPUs. The following month, the company raised $2 billion in a Series C funding round that valued it at $14.6 billion, subsequently closing a $900 million revolving credit facility and securing $790 million for its Norway data center project.

According to The Information, Nscale has accumulated approximately $103 billion in contracts, including major compute agreements with Anthropic and Microsoft. These contracts carry an average duration of 5.7 years, translating to an annual contracted revenue of around $18 billion. Conversations regarding the pre-IPO raise remain ongoing and are subject to change.