Nscale expects 14-fold revenue surge in amended IPO filing

Nov 12 (Reuters) - Nscale, a British cloud provider backed by chip giant Nvidia, amended its initial public offering filing on Thursday and said it expects revenue to jump 1,344% in the first nine months of the year.

Here are more details:

• The London-based company reported preliminary revenue of $307.5 million in the nine months ended September 30, compared with revenue of $21.3 million in the year-ago period

• But it expects net loss of $1.7 billion in the reported period, wider than the $433.3 million net loss a year ago

• Thursday’s amendment to the filing revealed the preliminary numbers after adding up the July-September quarter

• The company had revealed financials for the first six months of the year when it initially filed for the IPO in September

• The company was considering delaying the listing until next year, the Telegraph reported on Tuesday

• Nscale did not reveal the terms of the offering on Thursday

• The ‌company provides infrastructure, including ⁠compute, power and data centers, as well as software for training and running AI models

• Goldman Sachs, J.P. Morgan and Morgan Stanley are the lead underwriters for the offering. Nscale ​plans to list on the NYSE under the symbol "NSCL"