Nscale Secures $3.36B Convertible Led by Third Point Ahead of U.S. IPO

British neocloud Nscale secured $3.36 billion in pre-IPO convertible financing led by Third Point ahead of its U.S. listing later in 2026. $2.36 billion was available immediately, with $1 billion due from existing investor Nvidia in mid-November. The notes convert to equity on IPO completion.