Nscale seeks $3.5 billion before planned IPO
Nscale, a British AI infrastructure startup, is negotiating $3.5 billion in new funding—$1.5 billion in convertible notes and $2 billion from Nvidia—before a possible IPO as soon as later this month. According to sources, the notes carry a double-digit discount to the IPO price, capped at a $30 billion valuation. Nscale recently signed a $45 billion deal with Anthropic, boosting its projected revenue.
- $3.5B raise splits: $1.5B notes, $2B from Nvidia
- Sources say notes offer double-digit IPO discount
- Notes cap conversion price at $30B valuation
- $45B, six-year Anthropic deal signed recently
- Nscale valued at $14.6B in March Series C
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