AI cloud computing company Nscale plans to raise $3.5 billion with support from Nvidia

AI cloud computing company Nscale plans to raise up to $3.5 billion before its IPO, including $1.5 billion in convertible bonds and $2 billion in financing support from Nvidia. Third Point will invest in convertible bonds, with Goldman Sachs participating in fundraising arrangements. Nscale plans to conduct an IPO after financing, with an expected fundraising of $3 billion. The total contract value of the company is approximately $10.3 billion, including a $45 billion computing power agreement with Anthropic. The company expects future annual revenue to be approximately $18.1 billion and adjusted earnings before interest, tax, depreciation, and amortization to be approximately $13.6 billion. Nscale is building data centers in Norway and West Virginia, USA, and has purchased approximately 194000 NVIDIA Vera Rubin GPUs.