AI News Feed
Market watch
Companies

Nscale adds former OpenAI executive Fidji Simo to board ahead of potential IPO

Nscale has appointed Fidji Simo, a former OpenAI, Meta and Instacart executive, to its board as the U.K. AI data center startup prepares for an anticipated IPO this fall.

Simo joins a board that already includes Sheryl Sandberg, Susan Decker and Nick Clegg. She was formerly CEO of AGI Deployment at OpenAI, essentially the No. 2 executive at the AI lab, and left the company in July citing health reasons. She still advises OpenAI on a part-time basis.

Before OpenAI, Simo was chair and CEO of Instacart, where she led the company through its 2023 IPO. She also spent more than a decade at Meta, including as head of the Facebook app. Simo sits on Shopify's board.

Nscale founder and CEO Josh Payne said Simo is one of the few leaders who understand what it means to scale products used by billions of people and the demands those products place on the underlying systems. "That's what we're building for at Nscale," Payne said in a statement. "Fidji joins a board we've built deliberately, with the experience of scaling platforms to the largest in the world, and the independence, financial rigor and operating depth to which companies at this scale are held."

Nscale's valuation has skyrocketed since it was founded just two years ago, driven by booming demand for AI infrastructure. The startup designs, builds and operates AI data centers. Bloomberg reported last week, citing unnamed sources, that Nscale is trying to raise up to $3.5 billion ahead of a planned IPO.