Nscale's IPO: A $35 Billion Bet on AI's Future? Nscale's record breaking $35 billion initial public offering (IPO) has left investors and analysts scratching their heads.
The company's dismal financial track record, including net losses of $1 billion in the first half of 2026, raises questions about its valuation. On paper, Nscale's financials are unimpressive. Despite revenue of $140.
6 million for the first six months of 2026, the company has never turned a profit since its inception. In fact, its closest attempt at profitability came in 2024, when it managed to eke out a gross profit of $6.