British AI cloud firm Nscale reports 1,252% revenue surge in US IPO filing

On September 18, 2026, British AI cloud provider Nscale announced a 1,252% revenue surge in the first half of 2026, reaching $140.6 million, while its net loss widened to $1.02 billion. The London-based company is pursuing a U.S. IPO on the NYSE under "NSCL," targeting a $30 billion valuation. Nscale, backed by Nvidia, has grown rapidly since 2024, with total contracted value exceeding $103 billion. The listing tests investor appetite for AI infrastructure amid market volatility and concerns about AI development pace.