# Nscale's $30B IPO target

AI & tech · Heat 1.4 / 10 · 3 shows · 11m airtime

Bloomberg reported on October 19, 2026 that NVIDIA-backed Nscale is targeting a roughly $30 billion valuation in its planned IPO, while some investors value the company at $16 to $19 billion. Nscale was valued at $15 billion in September, and Microsoft accounts for 40% of its $103 billion in contracted revenue, a concentration now central to the valuation argument. The gap sits against a weaker backdrop: CoreWeave and Nebius trade well below their highs, and Microsoft pulled out of a UK data center project involving Nscale. Nscale filed publicly on September 18 and is still working through SEC comments, with no revised range set.

Page: https://boilpoints.com/point/nscales_30b_ipo_target_491678621

## Segments

- [Bloomberg Tech](https://boilpoints.com/u/bloombergtech), 2026-10-19, 1:18 to 5:04: **Breaks down the valuation gap before IPO**. Breaks the valuation gap: Nscale wants about $30 billion, some investors say $16 to $19 billion, with CoreWeave and Nebius down more than 20% since Nscale's September 18 public filing. Notes Microsoft's weekend exit from a UK data center project and that Nscale is still in SEC comments a month after filing. New angle: Some investors value Nscale at $16 to $19 billion against its roughly $30 billion IPO target.
- [The AI Daily Brief](https://boilpoints.com/u/theaidailybrief), 2026-10-19, 8:15 to 10:14: **Frames the Microsoft cancellation as a power problem**. Picks up The Telegraph's report that Microsoft canceled the Essex data center contract after utilities said grid connection would not come until the 2030s. Adds the site's share of Nscale's contracted revenue and the September $15 billion valuation, then frames the cancellation as a power problem rather than a demand problem. New angle: Microsoft represents 40% of Nscale's $103 billion in contracted revenue; Nscale was valued at $15 billion in September.
- [Big Take](https://boilpoints.com/u/bigtake), 2026-10-19, 11:11 to 12:51: **Cites Nscale and Volta as signs of a pullback**. Turns to the primary market for evidence of a pullback: Bloomberg's report that Nscale is under pressure to cut its IPO range, an Australian neocloud pulling its listing, and Volta's $5 billion loan priced at among the highest rates ever for the AI build-out. New angle: Volta Infrastructure priced a $5 billion leveraged loan at among the highest rates ever paid to finance the AI build-out.
- [Bloomberg Tech](https://boilpoints.com/u/bloombergtech), 2026-10-20, 4:01 to 7:22: **Details the Monarch deal and IPO clock**. Bailey Lipschultz details a new Anthropic-Nscale compute deal in talks worth up to $45 billion for the second Monarch building, with a right of first refusal on the third. She also lays out the IPO clock: a refiled S-1, SEC comments, and a company that won't list during midterm week. New angle: Anthropic is in talks for a second Monarch building deal worth up to $45 billion and holds a right of first refusal on the third.