Nvidia-backed Nscale considers delaying $35 billion IPO: Report

Nvidia-backed AI cloud firm Nscale considers delaying $35 billion listing, the Telegraph reports.

Nscale, a British cloud provider backed by chip giant Nvidia, is considering delaying a $35 billion stock market listing, the Telegraph reported on Tuesday.

Signage on a fence at the Nscale data center project in Barstow, Texas, US. (Bloomberg)

Executives at the data-centre developer are assessing whether to pause efforts to go public until next year, the report added.

Nscale did not immediately respond to a Reuters request for comment outside regular business hours.

The report comes days after Reuters reported that Microsoft had declined an option to expand its existing agreement with Nscale to rent more computing power at a Texas data center.

The London-based company filed for an IPO in September, when it sought about $3.5 billion in funding, including $2 billion from Nvidia.

Nscale plans to list on the NYSE under the symbol "NSCL."

The news about Nscale's IPOcomes as Anthropic moves ahead with its own listing plans. The AI giant on Tuesday filed an updated prospectus for its IPO, seeking a valuation of up to $1.4 trillion, slightly short of some investors' expectations.

Anthropic's IPO is seen as a key test of Wall Street's faith in the AI boom it helped ignite.