Nvidia-backed British AI cloud service provider Nscale has filed an S-1 registration statement with the U.S. SEC, planning to go public on the New York Stock Exchange with a target valuation of up to $35 billion. Nscale was spun off from a cryptocurrency mining company in 2024. Nvidia is not only its GPU supplier and customer but also an investor, having invested over $2 billion in Nscale and signed a $1.2 billion capacity lease agreement.
