Performance since IPO
Confirmed share price history
No published trading history yet
IPO recap
Offering not completed
Nscale filed IPO documents on Sep 18, 2026. IPO date and IPO offer price are not yet confirmed.
FiledSep 18
Pricing—
First trade—
Lockup ends—
The short version
Nscale publicly filed for a US IPO and proposes NYSE symbol NSCL. The AI infrastructure provider has not confirmed final pricing or launch day.
Key takeaway 1
S-1 filed; NSCL is a proposed NYSE symbol.
Key takeaway 2
The convertible financing includes a future NVIDIA commitment.
Company in detail
Nscale supplies AI compute infrastructure and services, including GPU capacity, inference and training orchestration. It combines power, data centers and software in one platform.
The issuer disclosed an S-1 on 18 September 2026 and a proposed NYSE listing under NSCL. The pending symbol does not establish that trading has started.
The convertible financing contains an initial tranche and a future NVIDIA commitment. Assessing the eventual offering requires separating committed funding from received cash, and contracted value from earned revenue. Construction schedules and conversion dilution also matter.
Operating metrics
Total contracted value
More than USD 103 billionContract value, not recognized revenue or IPO proceeds.
Sep 25, 2026Company profile
- Legal name
- Nscale Limited
- Headquarters
- London
- Founded
- —
- Founder and CEO
- Josh Payne
- CFO
- Alice Takhtajan
- COO
- Justin Osofsky
- AI infrastructure president
- Nidhi Chappell
- Platform
- Software, compute and power
- Services
- Inference, fine-tuning and managed Slurm
- Public debut
- Launched from stealth in May 2024
- Employees
- No published figure
Timeline
- Series A disclosed
USD 155m funding is announced.
- Public IPO filing
The issuer announces its S-1.
- Convertible funding
Financing includes a future NVIDIA tranche.
Sources
Total contracted value
More than USD 103 billionContract value, not recognized revenue or IPO proceeds.
Convertible financing
USD 3.36 billionUSD 2.36bn initial tranche plus USD 1bn NVIDIA commitment expected in November; not all received cash.
Valuation
—Not confirmed
Employees
—No published figure
Net income
—No published figure
Operating cash flow
—No published figure
Financials
No reported financial periods with figures available
Revenue
No published financial dataReported financial periods will appear here when available.
No reported period with figures
Financial results are not available in the sources listed here.
Valuation & peers
Price-to-sales, revenue growth and gross margin
Comparable metrics unavailableComparable company figures for the same date are not available.
Revenue growth (%)
| Company | P/S | Growth | GM |
|---|---|---|---|
| Nscale | — | — | — |
| No published peer comparison | |||
Context: Private financing valuations and modeled market values do not establish an IPO valuation. Revenue run-rate is not used here to calculate a price-to-sales ratio.
Private valuation and funding details
Convertible financing
USD 3.36 billionUSD 2.36bn initial tranche plus USD 1bn NVIDIA commitment expected in November; not all received cash.
Nscale — convertible financing, 2026-09-25 · Sep 25, 2026IpoHub score
How we score—Not rated
Balance sheet—
Growth—
Community—
Profitability—
Valuation—
Individual category scores are not available.
Where the money goes
—
Use of proceeds—
Allocation percentages—
Net proceeds—
Details on the use of IPO proceeds are not available.
Key risks
Editorial analysisInfrastructure delivery
Power access, construction and equipment availability govern deployment.
Financing and dilution
Debt conversion and new capital can alter ownership.
Deal terms
- Ticker
- NSCL
- Exchange
- NYSE (proposed)
- IPO price
- Not confirmed
- Price range
- Not confirmed
- Pricing date
- Not confirmed
- First trading day
- Not confirmed
- Shares offered
- Not confirmed
- Deal size
- Not confirmed
- Underwriters
- Not confirmed
- Greenshoe shares
- Not confirmed
- Lockup
- Not confirmed
- Quiet period expirations
- Not confirmed
Nscale IPO: where and how to invest
Where can I invest in the Nscale IPO?
The Nscale IPO is currently marked as filed; public share trading is not yet confirmed in this profile. If IPO subscriptions become available, you need a broker offering that specific deal to investors in your country. Having an account does not guarantee an allocation. After a confirmed listing, you can look for a broker that supports the relevant exchange.
Can I buy Nscale shares now?
Public trading in Nscale shares is not yet confirmed here. An announced or priced offering does not automatically mean you can buy the stock on an exchange. An IPO subscription and a private share purchase each have separate access requirements.
When is the Nscale IPO?
A confirmed first trading day for Nscale has not yet been published here. Check official company announcements and final offering documents; a planned timetable can change.
What is the Nscale IPO share price?
A confirmed IPO offer price for Nscale has not yet been published here. Private funding valuations and modeled private-market prices do not establish the eventual IPO share price.
What is Nscale's stock ticker and exchange?
The ticker recorded in this profile is NSCL. The exchange recorded here is NYSE (proposed). A proposed symbol or exchange does not establish that trading has begun. Verify the final listing announcement before placing an order.
Can I buy Nscale shares before the IPO?
Private transactions or funds may sometimes provide exposure to Nscale if a specific offer exists and you meet its requirements. This profile does not confirm an available private offer. A fund interest may provide indirect exposure rather than direct ownership of company shares. Private investments can have resale restrictions, uncertain valuations and limited exit options; a future IPO is not guaranteed.
Where can I find the Nscale IPO prospectus?
Check Nscale's official investor-relations announcements and publications from the relevant regulator and exchange. The company sources and documents on this page provide a starting point. A confidential submission or an announcement about it is not a publicly available prospectus. Before subscribing, read the final prospectus for the risks, price, share class and offering terms.
More questions about the Nscale IPO
When is the IPO?
No final pricing or first-trade day is verified.
Is contracted value annual revenue?
No. It covers contractual commitments rather than recognized sales.
Learn more about IPO access and private investments: Investor.gov · FINRA
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