Nscale touts $103 billion contracted revenue ahead of potential IPO, The Information reports
AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration
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Sept 2 : Nscale is telling prospective investors it has about $103 billion of total contracted revenue ahead of an initial public offering that could come as soon as this month, The Information reported on Wednesday, citing documents shared with the investors.
Reuters had reported in late August that Anthropic would spend $45 billion to rent AI cloud computing power from Nscale’s West Virginia data center campus.
• The Nscale contracts average 5.7 years in duration, implying about $18 billion in annualized contracted revenue, according to the documents reviewed by The Information.
• Another source familiar with the discussions cautioned that the Nscale figures are “illustrative” and not intended as a formal revenue guidance, the report said.
• Nscale, which is backed by Nvidia , did not immediately respond to a Reuters request for comment.
• The UK-based company, a cloud infrastructure provider, will deploy Nvidia’s new Vera Rubin chips to support Anthropic’s computing needs as part of the $45 billion deal.
Source: Reuters
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