Nvidia's investment in Nscale has submitted an IPO application for the US stock market, with a target valuation of $35 billion

Nvidia's investment in UK AI cloud service provider Nscale has submitted an S-1 registration statement to the US SEC, intending to go public on the New York Stock Exchange and seek a valuation of up to $35 billion. Nscale was spun off from a cryptocurrency mining company in 2024, with Nvidia as its GPU supplier, customer, and investor. Nvidia has invested over $2 billion in it and signed a $1.2 billion capacity lease agreement.