Nscale, the Nvidia‑backed neocloud provider, filed an updated prospectus for its planned NYSE IPO on Thursday. The filing shows a third‑quarter net loss of $1.69 billion on $307.5 million of revenue, up 1,344% year over year. The loss is larger than the $1.02 billion loss reported for the second quarter, when revenue was $140.6 million. The company did not disclose how much it hopes to raise in the offering. Microsoft has recently pulled back from using Nscale data centers in both England and Texas.
Why it matters
Potential investors see how quickly Nscale’s losses are growing, which could affect the IPO pricing and the availability of neocloud capacity for customers like Microsoft.
