Nscale Reports $103 Billion in Contracted Revenue Ahead of Potential IPO, The Information Says

Cloud infrastructure provider Nscale is communicating to prospective investors that it has secured approximately $103 billion in total contracted revenue as it moves toward a potential initial public offering (IPO) that could launch as soon as this month. The figures were reported by The Information on Wednesday, which cited documents shared with the investors.

A Look at the Numbers

According to the documents reviewed by the news outlet, Nscale's contracts have an average duration of 5.7 years. This long-term backlog implies about $18 billion in annualized contracted revenue, a key metric for investors assessing the company's future financial stability and growth prospects.

However, a source familiar with the discussions cautioned The Information that these figures are considered "illustrative" and are not meant to serve as formal revenue guidance. Nscale, which is based in the U.K., did not immediately respond to a request for comment on the matter, according to Reuters.

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Strategic Context and Nvidia Ties

The substantial revenue figure is bolstered by a major deal with artificial intelligence firm Anthropic. In late August, Reuters reported that Anthropic had committed to a $45 billion deal to rent AI cloud computing power from Nscale's data center campus in West Virginia.

Nscale, which counts chipmaker Nvidia as a backer, plans to deploy Nvidia’s new Vera Rubin chips to support Anthropic's significant computing requirements. This relationship underscores Nscale's position within the rapidly expanding AI infrastructure ecosystem, where demand for specialized computing power is surging.