AI compute provider Nscale is pursuing $3.5 billion in pre-IPO financing as it prepares for a public market debut. The funding push follows the company's recent $45 billion deal with AI safety firm Anthropic.
Nscale, a provider of AI computing infrastructure, is in active discussions to secure $3.5 billion ahead of an initial public offering, according to sources familiar with the matter.
The financing round represents a significant capital raise for the company, which has recently expanded its client base. Nscale's largest contract to date came in the form of a $45 billion agreement with Anthropic, the Claude AI developer backed by Google and Salesforce.
The timing of the funding push suggests Nscale plans to go public within the next 12-18 months. Pre-IPO rounds of this scale typically fund operational scaling, infrastructure buildout, and balance sheet strengthening ahead of public market scrutiny.
Demand for AI computing capacity has accelerated dramatically over the past year as enterprises and AI labs race to train and deploy large language models. This has created a seller's market for compute providers, with companies like CoreWeave and Lambda Labs attracting significant venture capital investment.
Nscale's valuation remains undisclosed, but the $3.5 billion raise suggests the company is valued in the range of $10-15 billion based on typical pre-IPO round structures.
The company joins a growing pipeline of AI infrastructure firms preparing for public debuts. CoreWeave is also reported to be exploring IPO options, while Crusoe Energy and other compute providers have recently closed substantial rounds.
Nscale has not announced a formal IPO timeline or target listing date. Spokespeople for the company did not respond to requests for comment.
Gimlet Labs, a platform that distributes AI workloads across multiple chip types, secured $300 million in Series B funding led by a16z. The raise values the company at $3 billion, just six months after closing an $80 million Series A.
Resect AI, a Seattle-based startup developing open-source tools to detect AI hallucinations before they occur, has emerged from stealth with $25 million in funding from private equity investors.
Data center developer Crusoe Energy has raised $3 billion in funding at a $30 billion valuation. The funding round follows a reported $13 billion contract with trading firm Jane Street.
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