Nscale has officially applied for a stock listing in New York

Nscale submitted its application for a stock listing in New York, as stated in a press release from the company. The exact number of shares to be sold and their price have not yet been determined. The company reported a loss of 1.02 billion dollars and a revenue of 140.6 million dollars for the first half of the year, according to documents submitted to the U.S. SEC, as reported by Bloomberg. In the same period last year, Nscale recorded a net loss of 368.9 million dollars and a revenue of 10.4 million dollars.

The proposed offering will only be made available through a prospectus, which can be obtained from Goldman Sachs, one of the banks leading the listing process. A registration statement related to the securities has been filed with the SEC but has not yet gone into effect. Nscale is a British company, with Aker, owned by Kjell Inge Røkke, as its largest shareholder since March, when it increased its stake to 23.9 percent.

Nscale is now the second-largest holding in Aker's portfolio. The company develops data centers for artificial intelligence (AI) and partners with Nvidia and Microsoft. According to Bloomberg News, Nscale aims to raise up to 3 billion dollars before going public and has been in discussions with potential investors to secure an additional 3.5 billion dollars in financing.

In the U.S., Nscale operates a facility in West Virginia and a data center in Texas. In August, it was announced that the company had entered into a 45 billion dollar agreement to provide AI computing capacity, with AI giant Anthropic as the customer, according to Bloomberg. Nscale also has significant operations in Europe, including in Norway, and plans to invest 100 billion kroner in a data center expansion in Narvik, having recently secured a smaller data center in Sauda. Furthermore, the company is planning for a potential large-scale expansion in Skien.

Reported by E24.