Nscale targets $3bn raise in US IPO - report

AI cloud company Nscale is reportedly looking to raise up to $3 billion in a US initial public offering (IPO).

As per a report from Bloomberg, the IPO could be held as soon as September 2026, with the likes of Goldman Sachs and JP Morgan Chase & Co working with the neocloud on the offering.

– Nscale

Should Nscale succeed in raising $3 billion in the offering, it would be double that of competitor CoreWeave, which went public at the end of March 2025.

Reports that Nscale was looking at going public have been mounting since October 2025, with the company hiring the banks in February 2026 for the effort. That same month saw Nscale signing a $1.4bn delayed draw term loan backed by its GPUs.