London-based AI data centre start-up Nscale is telling prospective investors that it has about $51 billion (£38bn) in total contracted revenue and that it could hold a US IPO as early as September, Bloomberg reported.
Revenue rose to more than $100m in the second quarter of this year, compared to about $37m in the first quarter and roughly $33m for all of 2025, Nscale executives told prospective backers, according to the report, which cited unnamed people familiar with the matter.
The start-up has an existing 831 megawatts of active and contracted computing power, and is seeking to add some 10 GW of power for its data centres, the report said.
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IPO plans
