Startup Nscale Aims for $2.7 Billion AI Play -- Backed by Nvidia Chips and a ByteDance Mega Deal
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Nscale, a London-based startup, aims to raise $2.7 billion to build global data centers powered by Nvidia chips. The financing includes a $1.8 billion private credit deal led by Goldman Sachs and $900 million in preferred equity. A significant part of its strategy relies on a potential $2 billion contract with ByteDance for high-end Nvidia chips. However, concerns about sustaining AI infrastructure demand persist, especially as Nscale's operational capacity is much smaller than its rival, Coreweave. The company's success hinges on swift execution and securing key customers.
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