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Nscale

European AI cloud selling GB300 and B200 capacity (S-1 filed for NYSE: NSCL)

Large clustersEuropeInference

Nscale is a London-based GPU cloud, spun out of a crypto-mining operation in 2024, with sites in Norway, the UK, the US, Portugal and Iceland. It has a prepaid self-serve console with managed Kubernetes and Slurm, while GB300 NVL72 and B200 capacity is sold through contracted reservations. It filed an S-1 on 2026-09-18 for a NYSE listing under NSCL and reports $103.4B of active and contracted TCV.

Best for: Large contracted GB300 and B200 reservations in Europe.

ClusterMAX 3.0: Not recommended – Unavailable

  • – Publishes prices
  • ✓ Serverless inference
  • – AMD GPUs
  • ✓ European data centers
Visit Nscale

Facts checked November 9, 2026 against the sources listed below. Nscale does not pay to appear here.

1 Legal nameNscale
2 HeadquartersLondon, UK
3 Founded2024
4 Funding or listingPrivate; S-1 filed 2026-09-18 for a NYSE listing (NSCL). $3.36B pre-IPO convertible notes (Sep 2026).
5 How you rentOn-demand, Reserved clusters, Bare metal, Serverless inference
6 Minimum commitmentPrepaid credit with a $5 minimum top-up; GB300 NVL72 and B200 via contracted reservations (terms not published)
7 InterconnectInfiniBand and NVLink fabrics with RDMA (no speeds stated)
8 OrchestrationKubernetes (Nscale Kubernetes Service), Slurm (managed), Terraform
9 GPUs offeredGB300 NVL72, B200
10 RegionsNorway (Glomfjord, Narvik; partner sites Stavanger, Oslo), UK (Loughton; partner site Hayes), US (Texas; partner sites), Portugal (Sines, partner-run), Iceland (partner-run)
11 CertificationsNot disclosed
12 Customers and partnersHomepage shows Microsoft, Meta, Google, OpenAI and NVIDIA logos; S-1 coverage cites Anthropic agreements worth up to about $44.6B and a Microsoft deployment at Sines, Portugal.

Published prices

Nscale does not publish on-demand prices. Ask for a quote.

Worth knowing before you sign

  • No public GPU price list (nscale.com/pricing returns 404).
  • H1 2026 net loss of $1.02B on $140.6M revenue; FY2025 net loss of $761.8M on $33M revenue (S-1 figures via Pulse 2).
  • S-1 risk factors include customer concentration, access to financing and timely deployment; most of the backlog is unearned.
  • Rated “Not recommended – Unavailable” in ClusterMAX 3.0.
  • The pre-IPO note round closed about $140M short of its $3.5B target, and a separate $1B Nvidia commitment was expected in mid-November 2026. The IPO had not priced as of 2026-11-09.

Go to Nscale's site

Sources

  1. Nscale
  2. Nscale infrastructure services
  3. Nscale docs overview
  4. Nscale reservations docs
  5. The Next Web: $3.36B pre-IPO round
  6. Pulse 2: Nscale S-1
  7. SemiAnalysis ClusterMAX 3.0 ratings

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