AI cloud provider Nscale files to go public

scale, a full-stack AI cloud platform, today announced it has signed a multi-year strategic partnership with humanoid robotics company Figure. The deal represents the potential to deploy the NVIDIA Vera Rubin platform with up to 100,000 NVIDIA GPUs. The initial GPUs are targeted for deployment starting the second half of 2027 in Barstow, Texas, with an initial commitment of $3.5 billion of compute and the intent to scale to over $6 billion. Nscale will become a Figure shareholder and Figure's preferred compute provider, powering the next generation of Figure's Helix models and its humanoid robotics.

Nscale and Figure Sign Strategic Partnership to Power the Next Generation of Physical AI

London, U.K. 31 August 2026 – Nscale, the hyperscaler engineered for AI, today announced the closing of approximately $3 billion in aggregate commitments across two senior secured delayed draw term loan facilities (“DDTLs”), one supporting its Ward County, Texas campus and the other its Madison, North Carolina site. The loan facilities, which have each received investment-grade ratings with stable outlooks, provide up to $1.85 billion for Ward County and up to $1.2 billion for Madison. The facilities will primarily fund the deployment of GPU infrastructure and associated networking, storage, and liquid-cooling equipment across both campuses: Ward County, Texas: A purpose-built AI infrastructure campus designed to support high-density, next-generation compute deployments. The facility combines closed-loop direct liquid cooling and rear-door heat exchangers to enable efficient operation of advanced AI systems at scale. The up to $1.85 billion loan facility, issued through Nscale Ward County Borrower SPV, LLC, will fund the deployment of NVIDIA GB300 (Blackwell Ultra) and VR200 (Vera Rubin) systems supporting approximately 200 MW of IT load. Madison, North Carolina: A 96-acre colocation site with up to 40 MW of IT load capacity. The up to $1.2 billion loan facility will fund site retrofit capital expenditures, GPU infrastructure and associated networking required to support high-performance AI compute deployments. J.P. Morgan and Goldman Sachs served as joint lead arrangers, joint bookrunners, and co-structuring agents for both facilities. J.P. Morgan served as lead left arranger for Nscale’s Ward County facility. Goldman Sachs served as lead left arranger for Nscale’s North Carolina facility.

Nscale Closes Approximately $3 Billion in Financing for Both Ward County, Texas and Madison, North Carolina AI Deployments

Up to $110 million upfront and success-based milestones collaboration will generate large-scale human cellular perturbation datasets to advance understanding of disease biology

Relation Announces Expanded Collaboration with GSK

FUNDRAISING PRESS

Rabbit inc. raises additional $10M to launch first AI hardware to replace app-based operating systems

PORTFOLIO SPOTLIGHT

Merck & Co. signs $220M macrocyclic peptide deal with Unnatural Products after hailing ‘next wave of drug discovery’

PORTFOLIO SPOTLIGHT

Relation Therapeutics: Novartis pens $1.7B immuno-dermatology pact with AI-enabled British biotech