Nscale, a British cloud provider backed by chip giant Nvidia, is considering delaying a $35 billion stock market listing, according to reports from The Telegraph. Executives at the data-centre developer are assessing whether to pause efforts to go public until next year, as reported by The Telegraph. 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 AI infrastructure market uncertainty has intensified with Anthropic retracting its $69.3 billion IPO pricing details sent to bankers, as reported by AI Chat Daily. The first email went out late Monday, November 9, with the roadshow expected to launch Tuesday, November 10, and pricing the following week. Investors were already questioning whether the roadshow could proceed that week, with the listing facing potential delays into December. Valuation expectations have shifted significantly, with Anthropic initially exploring a valuation of up to $2 trillion, though potential investors have discussed roughly $1.1 trillion to $1.3 trillion following a sharp sell-off in AI stocks after the US midterm elections.
The news about Nscale's IPO comes as Anthropic moves ahead with its own listing plans, though the company has now retracted its pricing details. The AI giant's IPO is seen as a key test of Wall Street's faith in the AI boom it helped ignite, highlighting the competitive landscape in the AI infrastructure sector. Other AI infrastructure companies have delayed or withdrawn planned listings amid the current market uncertainty.
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, according to Reuters. This development adds context to the company's current market position and strategic partnerships in the competitive AI infrastructure market.
