Nscale Updates IPO Filing With $1.69 Billion Q3 Loss as Revenue Jumps 1,344%
Updated
Updated · CNBC · Nov 12
Nscale Updates IPO Filing With $1.69 Billion Q3 Loss as Revenue Jumps 1,344%
1 articles · Updated · CNBC · Nov 12
Summary
$1.69 billion in third-quarter net loss and $307.5 million in revenue appeared in Nscale’s updated U.S. IPO prospectus, with sales up 1,344% from a year earlier.
The loss widened from $1.02 billion in Q2 even as revenue rose from $140.6 million, underscoring the cash burn behind the Nvidia-backed neocloud’s rapid expansion.
Microsoft has clouded the listing story after abandoning a planned England data-center project over power-access issues and reportedly declining to renew a Texas contract, though Nscale still expects it to remain a significant customer.
Anthropic offers a counterweight: the AI startup exercised an option in late September for more computing capacity at Nscale’s West Virginia site.
The filing lands amid broader neocloud volatility, with CoreWeave swinging after results and Nvidia CEO Jensen Huang’s resignation, while Nscale still has not said how much it plans to raise on the NYSE.