727 FinancePANews reported on September 25 that Nscale, an AI cloud computing company, announced the completion of US$3.36 billion in convertible bond financing, led by Third Point, with participation from new and old investors such as Nvidia, funds managed by Apollo, Citadel, Hudson Bay Capital and the Abu Dhabi Investment Council. Among them, the first phase of financing of US$2.36 billion has been completed, and Nvidia has committed to an additional US$1 billion, which is expected to be invested in mid-November 2026.
Nscale said that the company's current total contract value (TCV) exceeds US$103 billion, and this round of funds will be used to accelerate the expansion of AI cloud infrastructure, covering behind-the-meter power facilities, liquid-cooled AI data centers and large-scale GPU clusters. The convertible bonds will automatically convert into common shares after Nscale completes its IPO, and the portion held by Nvidia will be converted into non-voting shares.