Nscale Limited plans an IPO with a $30 billion valuation, positioning itself as a vertically integrated AI infrastructure provider. The company boasts a $103.4 billion contracted backlog and operates majority-owned data centers, Nvidia GPU rentals, and proprietary cloud software. Despite rapid revenue growth and strong customer prepayments, Nscale remains loss-making and capital-intensive due to expenses outpacing revenue recognition. Its valuation, at 22 times contracted power, appears high compared to peers, raising caution despite marquee contracts like Anthropic. The IPO process is just beginning with the recent S-1 filing.
Nscale's planned IPO values the company at $30 billion, highlighting its significant contracted backlog of $103.4 billion. For readers following the Technology sector, here is Pluang's market snapshot as of Sep 21, 2026 14:01 WIB: out of 150 priced US tech stocks tradable on Pluang, 104 rose and 43 fell today. Notable movers include PUBM at USD 17.55 (+4.15%), KEYS at USD 335.00 (+4.02%), and FRSH at USD 12.25 (-3.77%).
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