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Ahead of a $35 billion IPO, UK-based Nscale is six months behind on its flagship data center in Norway

Prepared by Sintelligent with the help of SI. Published in SI: . Updated: .

Building SI computing capacity is running behind plan even at companies preparing to go public.

According to Bloomberg (the article is paywalled; details here are from Startup Fortune's retelling), Nscale plans an NYSE listing at a valuation of about $35 billion, and its data center in Norway is running about six months behind schedule: 6.4 of 30 planned megawatts are operating. The causes, per the same retelling, are cooling-system leaks, permitting disputes, construction delays and a fire. In the first half of 2026 revenue was $140.6 million ($10.4 million a year earlier) and net loss was $1.02 billion ($369 million). The retelling includes no response from Nscale.

Sources 2

bloomberg.comstartupfortune.com
History

Nscale: contracts and IPO preparation

7 events
  1. Nscale and Anthropic are in talks on a new $45 billion compute agreement
  2. Microsoft pulls out as anchor tenant of Nscale's large SI data centre in Essex
  3. Ahead of a $35 billion IPO, UK-based Nscale is six months behind on its flagship data center in NorwayOpen now
  4. UK's Nscale raises $3.36 billion in convertible bonds ahead of IPO, $1 billion of it from Nvidia
  5. Britain's Nscale, which rents out GPUs for OpenAI and Anthropic, files for a New York IPO at a valuation of up to $35 billion
  6. Nscale, Anthropic's data center partner, seeks $3.5 billion ahead of going public
  7. UK's Nscale claims $103 billion in contracts, nearly half of it a deal with Anthropic
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