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”
(Reporting by Pritam Biswas in Bengaluru; Editing by Sahal Muhammed)
