Nscale, a British AI infrastructure company founded just two years ago, is reportedly in talks to raise an additional EUR 3 billion as it prepares for a public offering that could arrive as early as later this month. The fresh capital would come ahead of an IPO the company says may happen soon.
According to reporting on Friday, Nscale is looking to sell EUR 1 billion in convertible notes — a form of loan that can later convert into company stock — to a group of investors. At the same time, the company is seeking an additional EUR 2 billion in financing from Nvidia.
Nvidia deepens its stake in Nscale
Nvidia is no stranger to Nscale. The chipmaker participated in the firm’s Series B round in March, a EUR 1 billion raise led by investment fund Aker. Nscale described that round as the largest Series B in European history. The company’s Series A round, closed in December 2024, brought in EUR 133 million.
The rapid fundraising reflects a broader trend across AI infrastructure startups, which have grown quickly as compute capacity becomes a competitive currency in the current wave of AI investment.
A massive Anthropic deal drives projections
Nscale recently signed a large agreement with Anthropic valued at roughly EUR 39 billion. Reports that surfaced earlier this week indicated the company has been telling potential investors it has approximately EUR 89 billion in revenue tied to the deal. That figure does not represent current sales; it is a projection based on signed customer leases.
Nscale was founded in 2024. Its planned public debut could take place later this month.
Source
Image: techcrunch.com
