NSCALE Files for New York Listing Amid Financial Warnings

NSCALE, a London-based neocloud company, filed for a New York listing on September 24, 2026. The company, which builds and finances AI-ready data centers, is seeking a valuation of up to $35 billion. NSCALE reported a net loss of $1.02 billion in the six months leading up to June 30, 2026, and its management flagged substantial doubt regarding its ability to continue as a going concern.

The company, which spun out of Arkon Energy in 2024, is backed by major investors including Nvidia, which is noted as the biggest supplier. The filing outlines a path for NSCALE to raise capital on Wall Street despite significant operational losses.

NSCALE is currently establishing a presence across Europe while pursuing a US Initial Public Offering.