Startups & Business3 min
AI cloud firm Nscale says it needs more money to deliver a $45B Anthropic deal
Nscale, an Nvidia-backed company that rents out AI computing, told investors in a filing that it must raise more money to meet its 2027 commitments. It had ordered Nvidia chips for a $45 billion Anthropic deal. The Financial Times says this casts doubt on its planned $35 billion stock market listing. CNBC reports third-quarter revenue of $307.5 million, up 1,344% on a year earlier, and a net loss of $1.69 billion. Bloomberg reports that its debt rose to $5.5 billion in September from $137.4 million in June, and that Nvidia committed $2 billion of a convertible financing worth more than $3 billion.
Why it matters: It shows how much borrowed money sits behind the AI data-centre boom, and how fragile some of these deals are.