Nvidia-backed AI data center Nscale has secretly filed for IPO

PANews reported on September 19, citing Bloomberg, that Nscale, an AI data center developer working with Nvidia and Microsoft, has secretly filed for an IPO with the U.S. Securities and Exchange Commission (SEC) to raise funds to purchase equipment and meet growing demand for AI computing power.

Disclosure documents show that in the six months ended June 30, Nscale posted revenue of $140.6 million and a net loss of $1.02 billion; in the same period last year, revenue was only $10.4 million with a net loss of $368.9 million.

Nscale is an AI data infrastructure company spun off from crypto mining firm Arkon Energy, with a focus on AI data centers, GPU computing power and energy infrastructure. In July this year, it announced the acquisition of distributed AI software company Anyscale for approximately $1.65 billion; Anyscale's customers include Coinbase, Runway and Bedrock Robotics, among others.