U.K.-based AI cloud provider Nscale has filed an S-1 registration statement with the U.S. Securities and Exchange Commission as it moves toward a New York Stock Exchange listing. The company is seeking a valuation of up to $35 billion, according to the filing update cited by Odaily. Nscale was spun out of a cryptocurrency mining company in 2024, linking the planned IPO to a business with roots in the digital asset sector. Nvidia has multiple ties to the company, serving as Nscale’s GPU supplier, customer, and investor. Odaily said Nvidia has invested more than $2 billion in Nscale and has also signed a $1.2 billion capacity leasing agreement with the firm. The filing puts a spotlight on a company positioned at the intersection of AI infrastructure, public markets, and crypto-related corporate restructuring.
U.K.-based AI cloud provider Nscale has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission as it prepares for a listing on the New York Stock Exchange, according to Odaily. The company is seeking a valuation of up to $35 billion.
Nscale was spun out of a cryptocurrency mining company in 2024. Nvidia is listed as the company’s GPU supplier, customer, and investor. Odaily said Nvidia has invested more than $2 billion in Nscale and has signed a $1.2 billion capacity leasing agreement with the firm.
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