The pressure comes after Microsoft canceled a deal to rent 23,000 GPUs at a site in Essex because power may not be available until the 2030s. Microsoft and Anthropic account for about 85% of Nscale's $103 billion contract pipeline, making the loss of an anchor tenant particularly damaging. Other assets are similarly troubled; Nscale's site in Norway operates only 6.4 MW of a planned 30 MW following a December fire and cooling leaks. Nvidia previously invested $1 billion in Nscale's pre-IPO convertible notes to support its buildout.
Tuesday, October 20, 2026
Story
Nscale Investors Demand $16B IPO Valuation After Site Failures
AI2 days ago
Shareholders in the British AI data center provider are pushing the company to reduce its expected worth during a planned stock market listing after several operational setbacks. Investors are urging Nscale to target a valuation in the range of $16 billion to $19 billion, a drop from the previous $30 billion target, as the firm seeks to raise as much as $3 billion. The company has aimed to list as soon as this month, but now faces opposition to its pricing targets following a series of losses in its site pipeline.
Looking for more context or analysis?
Tilt chat provides reliable, tailored insights, alerts, and automations.