The Nvidia-backed neocloud’s bet on a West Virginia data centre campus has been hit by construction issues, local opposition and financing risks.
Nscale, one of the UK’s most valuable start-ups, is facing mounting setbacks and financing risks on a vast US data project that underpins its planned $US35 billion ($50 billion) IPO.
The Nvidia-backed “neocloud”, which counts former Meta executive Sheryl Sandberg and ex-UK deputy prime minister Sir Nick Clegg as board members, is pinning its hopes on a rural site in West Virginia to be the main driver of future revenues.
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Nscale’s IPO filing shows $5.5bn in debt. “We will require additional capital to fund our business,” the Anthropic supplier wrote.
There are two potential catalysts next week that could either revive or help snuff out the tech recovery.
Few solid clues have emerged as to the true nature of Megaspeed, whose former director Alice Huang has been accused of being a Chinese spy
