Nscale, backed by Nvidia, valued at $14.6 Billion in a new funding round

The 'artificial intelligence' group Nscale, which is backed by Nvidia and has raised $2 billion through its latest funding round, was valued at $14.6 billion on Monday. The Series C round of funding was led by Norway’s Aker and 8090 Industries and included Nvidia Citadel Dell Jane?Street among others.

The company announced that former Meta executives Nick Clegg, Sheryl Sandberg and Susan Decker would join the board. Sources told us that the 'funding round' comes ahead of Nscale Global's preparations to launch an initial public offering. Goldman Sachs and JPMorgan have been hired as underwriters. Sources told?Earlier this year.

Sources had stated that the timeline for a potential listing was not yet set. Nscale was founded in 2024 and owns its own data centers, graphics processing units (GPUs), software stack, and GPUs to provide large-scale GPU-powered AI computing.

The new funding is expected to help the company 'expand their data-centre capacities in order to meet the soaring demand for AI computing by customers such as Microsoft and OpenAI. (Reporting by Ruchika Khanna in Bengaluru; Editing by Harikrishnan Nair)

(source: Reuters)