AI News Feed
Market watch
Ilya Sutskever Says AI Will Eventually Do Everything Humans Can, TechRadar ReportsResearchers used Claude to access OpenAI GitHub repository, report saysAnthropic Selects Accenture as First Embedded Evaluator in AI Safety PushGemini smart home control issues spread to Android Auto, users sayAI Hallucination Nearly Triggered U.S. Strike on Chinese Vessel, CNN ReportsAI cloud provider Nscale files for NYSE IPO, disclosing $1.02 billion loss
Ilya Sutskever Says AI Will Eventually Do Everything Humans Can, TechRadar ReportsResearchers used Claude to access OpenAI GitHub repository, report saysAnthropic Selects Accenture as First Embedded Evaluator in AI Safety PushGemini smart home control issues spread to Android Auto, users sayAI Hallucination Nearly Triggered U.S. Strike on Chinese Vessel, CNN ReportsAI cloud provider Nscale files for NYSE IPO, disclosing $1.02 billion loss
Companies

AI cloud provider Nscale files for NYSE IPO, disclosing $1.02 billion loss

Nscale, a London-based AI cloud provider that rents out Nvidia GPUs, has filed to list on the New York Stock Exchange under the ticker NSCL, reporting a $1.02 billion net loss on $140.6 million of revenue in the first half of 2026.

AI News Feed · 2026-09-19 07:18

For the six months ended June 30, 2026, Nscale reported a net loss of $1.02 billion on revenue of $140.6 million. A year earlier the net loss was $368.9 million on revenue of $10.4 million, an increase of 1,252% in revenue. The company listed $56.4 billion in remaining performance obligations, a measure of contracted work not yet recognized as revenue.

Nscale rents out Nvidia GPUs for training and running models, and its customers include OpenAI and Anthropic, both of which have struck deals with the company. Microsoft, itself a cloud provider, has also signed up with Nscale. One unnamed customer accounted for more than half of revenue in the first half of 2026. Competitors include market-leading cloud providers such as Amazon, as well as younger AI-centric suppliers CoreWeave and Nebius that are known as neoclouds.

Nscale has sought to diversify beyond renting capacity. It now offers to handle inference requests for a range of models, and in July it announced plans to acquire Anyscale, a startup whose software helps with the construction of AI models. Last week the company said Fidji Simo, a former OpenAI, Instacart and Meta executive, was joining its board. Simo stepped down as OpenAI's product and business chief in July after taking medical leave. Other board members include former Meta leaders Nick Clegg and Sheryl Sandberg.

As of Aug. 31, Nscale had more than 1,000 full-time employees, 25,000 active GPUs and 461,000 GPUs that were either active or under contract, along with five active and 12 contracted data center sites. The company carries more than $8 billion in debt, excluding a financing arrangement with Dell.

Nscale emerged from stealth mode in 2024, spinning out of cryptocurrency mining firm Arkon Energy. Its investors include Blue Owl, Dell, Nvidia, Fidelity and Point72. In March the company said investors valued it at $14.6 billion in a funding round. Nvidia agreed to guarantee up to $860 million on Nscale's obligations for a data center lease agreement in Texas, according to the filing.

Josh Payne, Nscale's 32-year-old founder, chair and chief executive, told CNBC last year that Europe lacked sufficient AI computing resources.

CNBC reported that OpenAI, Anthropic and other labs have had seemingly endless thirst for more computing capacity since the release of ChatGPT in 2022, as people tap generative AI products for coding, productivity and general chat. As a result, Anthropic and OpenAI have required large amounts of cash to pay their computing bills, and both are planning to go public, CNBC reported.