20:47 - 7.09.2026

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September 7, Fineko/abc.az. UK-based AI cloud infrastructure provider Nscale has initiated a $3.5 billion pre-IPO funding round following its landmark $45 billion compute agreement with Anthropic. Founded just two years ago, Nscale specializes in leasing GPU-powered computing capacity required for training and deploying large language models.

Key details of the financing round:

• Capital Structure & Valuation: The funding package comprises $1.5 billion in convertible notes—led by hedge fund interest with conversion valuation caps set at $30 billion—alongside a target $2 billion strategic investment from Nvidia.

• Revenue Backlog Expansion: Driven by the Anthropic contract and existing deals with major tech players, Nscale's total contracted revenue backlog has expanded to $103 billion, positioning the firm for its upcoming public listing.