Nscale Raises $3.36B Ahead of NYSE IPO

British AI cloud provider Nscale closed a $3.36 billion pre-IPO convertible round led by Third Point, with Nvidia, Apollo, Citadel and Abu Dhabi Investment Council participating. The raise fell $140 million short of its $3.5 billion target. Nscale filed last week to list on the NYSE under ticker NSCL, potentially raising $3 billion more at a $35 billion valuation.