Nscale meets investor resistance over its IPO valuation target

The London-based AI cloud firm wants up to $35 billion on the NYSE, but delays, a Microsoft exit, and a cooling sector are testing buyers' patience Nscale wants public markets to value it at up to $35 billion. According to Bloomberg, a number of investors are pushing back on that figure. The London-based AI infrastructure company is trying to go public just as enthusiasm for AI build-outs is cooling, construction schedules are slipping, and rival listings are being shelved. Nscale filed its S-1 registration statement with the US SEC on September 18, 2026. It plans to list on the NYSE under the ticker NSCL. The company is looking to raise approximately $3 billion through new shares.

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