Nscale Acquires Anyscale for $1.65B to Build Full-Stack AI Cloud

Nscale is acquiring Anyscale for $1.65 billion, announced July 30, 2026. The deal pairs Nscale's GPU cloud infrastructure with Anyscale's Ray-based AI workload orchestration software, creating an end-to-end AI platform. Nscale, valued at $14.6 billion after a March 2026 Series C, is buying rather than building the software layer atop its compute — a vertical integration play hyperscalers have made before.