Nscale Limited (Nscale), an AI cloud platform and data center operator, has secured US$ 3.36 billion in convertible debt financing, with investment firm Third Point leading the round. The financing will be provided in two parts, Nscale will receive US$ 2.36 billion at closing, while NVIDIA, an American multinational Big Tech company, has committed a further US$ 1 billion, which is expected to be funded in mid November 2026.
According to a press release, the financing attracted both new and existing investors. Alongside Third Point and NVIDIA, participants included funds managed by Apollo, Citadel, Hudson Bay Capital, Abu Dhabi Investment Council, 8090 Industries, Davidson Kempner Capital Management, Qube Research & Technologies, Context Capital Management, Longaeva Partners L.P., Wellington Management, Castleknight, Ghisallo Capital Management, LionTree Investment Fund, L.P., Javelin Venture Partners and Irving Investors.
Josh Payne, Founder and CEO, Nscale, said, “This marks a milestone for Nscale as we continue scaling our full-stack AI infrastructure to meet unprecedented global demand, with the backing of these world-class investors, we are strongly positioned to accelerate our data center buildouts globally.”
The funding comes as Nscale expands infrastructure for companies developing and deploying artificial intelligence. Its operations include AI data centers, GPU clusters and power facilities. The notes will convert into shares automatically if Nscale completes an initial public offering (IPO). NVIDIA’s notes will convert into non-voting shares.
Goldman Sachs & Co. LLC served as placement agent for the financing. Nscale has more than US$ 103 billion in total contracted value. It did not disclose how much of that amount represents revenue already recognized or the timing of the contracts.