Debt · Debt Financing · Signed
Nscale $3.36 billion pre-IPO convertible financing
Nscale announced convertible loan notes led by Third Point. The initial tranche closed, with an additional NVIDIA commitment expected to fund later.
- Convertible loan notes
- $3.36B
- Signed · Nscale
Amounts
Each number with its type, status and the sentence it comes from
| Amount | Value | Status | Source |
|---|---|---|---|
Convertible loan notesDebt raised · to Nscale“London, U.K., 25 September, 2026—Nscale Limited, the full-stack AI cloud platform, today announced its $3.36bn raise via convertible loan notes, led by Third Point.” | $3.36B | Signed | Nscale ↗ |
Initial tranche at closing (included)Debt raised · to NscalePart of the amount above, not added again“The financing consists of an initial $2.36bn tranche at closing and an additional $1bn commitment from NVIDIA with funding expected in mid-November, 2026.” | $2.36B | Closed | Nscale ↗ |
NVIDIA commitment (included)Debt raised · NVIDIA → NscaleCondition: Funding expected in mid-November 2026Part of the amount above, not added again“The financing consists of an initial $2.36bn tranche at closing and an additional $1bn commitment from NVIDIA with funding expected in mid-November, 2026.” | $1B | Announced | Nscale ↗ |
Participants
Amounts per investor are shown only when a source states them
| Organization | Role | Type | Note |
|---|---|---|---|
| Nscale | Issuer, Borrower | Neocloud | — |
| Third Point | Lead | Asset manager | — |
| NVIDIA | Investor, Lender | Chips | — |
Key terms
- IPO conversion
- The loan notes convert automatically into shares when Nscale completes its initial public offering. Nscale ↗
“The loan notes are convertible into ordinary shares (or non-voting shares in the case of NVIDIA) automatically upon completion of Nscale's initial public offering.”
Sources
- Nscale, “Nscale Raises $3.36 Billion in Pre-IPO Convertible Financing”, Sep 25, 2026 · retrieved Nov 12, 2026
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