Nscale Secures $3.36 Billion Convertible Financing Led by Third Point
The first $2.36 billion has closed, while Nvidia has committed an additional $1 billion expected in November 2026.
Nscale has announced a $3.36 billion convertible financing led by Third Point as the AI cloud provider expands power, data-center and GPU capacity. The first $2.36 billion has already closed, while Nvidia has committed an additional $1 billion expected to be funded in mid-November 2026.
The financing includes participation from Nvidia, funds managed by Apollo, Citadel, Hudson Bay Capital and the Abu Dhabi Investment Council, along with other new and existing investors.
Nscale plans to direct the capital toward behind-the-meter power facilities, liquid-cooled AI data centers and large-scale GPU clusters. The company puts its total contracted value above $103 billion.
The convertible notes are set to become ordinary shares automatically after Nscale completes its initial public offering. Nvidia’s portion will convert into non-voting shares.
