NVIDIA CorporationNvidia committed a $1 billion forward tranche in Nscale's pre-IPO convertible financing, a direct investment in the AI data center operator.

London-based Nscale Limited has secured $3.36 billion in a pre-IPO convertible financing round as the artificial intelligence data center operator prepares for a public debut. The convertible loan note offering was led by activist hedge fund Third Point, with participation from Apollo, Citadel, Hudson Bay Capital, and the Abu Dhabi Investment Council. The transaction consists of an immediate $2.36 billion closing tranche alongside a $1 billion forward commitment from Nvidia Corp., with the latter slated for funding in mid-November 2026. The capital raise follows the company's recent initial public offering filing, which could seek as much as $3 billion in new equity. Nscale reported more than $103 billion in total contracted value, and expects to list its ordinary shares on the New York Stock Exchange under the ticker symbol NSCL, with Goldman Sachs & Co. LLC acting as placement agent and a lead underwriter alongside JPMorgan Chase & Co. and Morgan Stanley.
NVIDIA CorporationNvidia committed a $1 billion forward tranche in Nscale's pre-IPO convertible financing, a direct investment in the AI data center operator.