Exclusive: Nscale Touts $100 Billion-Plus in Contracted Revenue After Anthropic Win
UK-based neocloud Nscale is telling prospective IPO investors it has about $103B of total contracted revenue after a $45B computing deal with Anthropic, and could list as soon as this month (September 2026), per investor documents reviewed by The Information. Before Anthropic it cited $51B; contracts average 5.7 years (~$18B/year if annualised), though one person called the figures “illustrative,” not guidance. Docs do not map contracted revenue to expected recognised revenue. Q2 2026 revenue is estimated above $100M (excluding Anthropic), up from ~$37M in Q1 (Bloomberg had those figures earlier). Nvidia is a heavy backer. CoreWeave comparison cited: >$5B revenue in 2025 and >$12B guided for 2026.
Why it matters
Material update for Dealroom’s neocloud and Anthropic ecosystem maps: contracted-revenue scale, IPO timing signal, Nvidia backing, and a caution that headline backlog may not equal near-term revenue. Benchmarks against CoreWeave for European vs US AI-infra listings.
