WASHINGTON (dpa-AFX) - British AI cloud provider Nscale reported a 1,252 percent increase in revenue in the first half of 2026 as it prepares for a U.S. initial public offering and seeks to capitalize on demand for artificial intelligence infrastructure.
The company generated $140.6 million in revenue for the six months ended June 30, compared with $10.4 million a year earlier, while its net loss widened to $1.02 billion from $368.9 million.
Nscale is targeting a multibillion-dollar IPO and a valuation of about $30 billion, according to CNBC, after being valued at $14.6 billion in a March funding round. The company also recently agreed to sell $3.1 billion of convertible bonds, including $1 billion to Nvidia.
Nscale provides computing capacity, power, data centers and software for AI model development and operation. It operates across 14 regions and has more than $103 billion in contracted value. However, its largest customer accounted for 52 percent of first-half revenue. Nscale plans to list on the New York Stock Exchange under the symbol 'NSCL.'
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
