British AI infrastructure company Nscale, founded just two years ago, said it could list as early as later this month. The company is reportedly in talks to raise an additional $3.5 billion ahead of an expected IPO.
Bloomberg reported Friday that the company is considering selling $1.5 billion in convertible notes, a type of loan that can later be converted into company stock, to a group of investors, while also seeking an additional $2 billion in financing from Nvidia.
Nvidia also participated in the company’s Series B funding round in March, raising $1.1 billion led by investment fund Aker. Nscale hailed the round as “the largest Series B in European history.” The company raised $155 million in its Series A round in December 2024.
TechCrunch has reached out to Nscale and Nvidia for comment.
AI infrastructure startups are experiencing significant growth in the current era of AI frenzy, where computing has become the competitive currency.
Nscale recently signed a major contract with Anthropic worth approximately $45 billion. Earlier this week, reports surfaced that Nscale had told potential investors that the acquisition would generate approximately $103 billion in revenue. This number is not current sales. According to The Information, this is a projection based on signed customer lease agreements.
