Connect with us

News

AI compute provider Nscale is looking for $3.5B in pre-IPO financing

info

Published

on

GettyImages 2266843677.jpg

Nscale, a British AI infrastructure company founded just two years ago, has said it may go public as early as later this month. Ahead of that expected IPO, the company is reportedly in talks to raise an additional $3.5 billion.

Bloomberg reported Friday that the company is looking to sell $1.5 billion in convertible notes — a type of loan that can later convert into company stock — to a group of investors, while also seeking an additional $2 billion in financing from Nvidia.

Nvidia also participated in the firm’s Series B funding round in March, a $1.1 billion raise led by investment fund Aker. Nscale hailed its round as “the largest Series B in European history.” The company’s Series A round, in December of 2024, raised $155 million.

TechCrunch reached out to Nscale and Nvidia for comment.

AI infrastructure startups have seen immense growth amid the current era of AI enthusiasm, wherein compute has become a competitive currency.

Nscale recently signed a large deal with Anthropic worth approximately $45 billion. Earlier this week, reports emerged that Nscale had been telling potential investors that it has approximately $103 billion in revenue following the deal. That figure isn’t current sales; it’s a projection based on signed customer leases, according to The Information.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

CAF Champions League: Rivers United Hold San Pedro, Set Up Crucial Home Decider

info

Published

on

By

IMG 20260905 WA0061.jpg

Rivers United have returned from Côte d’Ivoire with a valuable 1–1 draw against FC San Pedro in the first leg of their CAF Champions League first preliminary-round tie.

The result gives the Pride of Rivers a strong platform ahead of the return fixture, with the Nigerian side now needing a victory at home to secure their place in the next qualifying round.

Read Also: 27 Years Later, Shooting Stars Return to Africa With a Win as Lucky Emmanuel Sinks CS Sfaxien

The draw is particularly encouraging for Rivers United after head coach Finidi George had stressed before the game that avoiding defeat in Abidjan would represent a positive outcome. He specifically identified a 1–1 draw as an acceptable result that would leave his side in a good position for the return leg.

Rivers United went into the continental assignment with confidence after opening their 2026/27 NPFL campaign with a 2–0 victory over Plateau United, while Finidi also highlighted the physical qualities of San Pedro and the youthful character of his own revamped squad.

Now, the equation is straightforward.

The two sides are level on aggregate, and Rivers United will have the advantage of playing the decisive second leg on Nigerian soil. The return fixture is currently listed for September 13, giving the Port Harcourt club the opportunity to complete the job in front of their supporters.

For a Rivers United side that reached the CAF Champions League group stage last season, the objective is clear: turn the away draw into qualification and keep Nigeria’s flag flying in Africa’s premier club competition.

A goal in Abidjan. A valuable draw secured.
Now, the Pride of Rivers must finish the job at home.

Continue Reading

News

Seattle Times and Newsday are the latest publications to sue OpenAI and Microsoft

info

Published

on

By

Artifact newspaper icon.jpg

Two more news organizations are suing OpenAI and Microsoft over the supposed use of their journalism to train AI.

A lawsuit filed by The Seattle Times and Newsday argued that with the advent of AI, the journalism industry could become “broken beyond repair.” The lawsuit described generative AI as “a snake eating its own tail” that could “destroy the very organizations” that produce the content it’s trained on.

“AI products like ChatGPT and CoPilot are touted as producers of content, but in fact they are rapacious consumers, devouring human-authored content and delivering back to the world copies and derivative imitations of that same original content they consumed to achieve their commercial objectives,” the lawsuit said.

Back in 2023, The New York Times sued OpenAI and its partner/investor Microsoft over alleged copyright infringement; other publications have followed suit as the case continued. The Seattle Times’ lawsuit is particularly notable because Microsoft and OpenAI have funded some of the organization’s journalism projects and fellowships.

A Microsoft spokesperson told GeekWire that the company is “surprised by the lawsuit” but is “always happy to sit down and explore solutions to this type of dispute.”

Continue Reading

Trending