Nscale, a London-based developer of AI data centers that rents computing power, has filed for an initial public offering in New York as demand for AI computing capacity rises.

The company, which counts Nvidia and Microsoft among its partners, reported a net loss of US$1.02 billion and revenue of US$140.6 million for the six months ended June 30, according to its filing with the US Securities and Exchange Commission.

Nscale was spun out of a cryptocurrency mining operation in early 2024. It has facilities in Europe and the US, and plans to trade on the New York Stock Exchange under the symbol NSCL.

🔗 Source: Bloomberg

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