Nscale Raises $3.36B in Pre-IPO Convertible Round Led by Third Point

British cloud provider Nscale has raised $3.36 billion in convertible funding, a loan that becomes shares at IPO, led by Third Point ahead of its U.S. listing later in 2026. $2.36 billion is available now, with $1 billion to follow from existing investor Nvidia in mid-November.