Headline: Nvidia-backed Nscale Hires Banks for Upcoming IPO, Aiming for $2B Valuation - NSCL.L

[Para 1: The Lead] Nscale Global Holdings, backed by Nvidia, has engaged Goldman Sachs and JPMorgan for an initial public offering (IPO), aiming for a $2 billion valuation, sources close to the matter confirm. The timeline for the listing is not yet set as discussions remain private. [Para 2-3: Supporting details & Context] Nscale, founded in 2024, has seen significant growth, expanding its data center capacity to meet high demand for AI computing from clients like Microsoft and OpenAI. In September, the company raised $1.1 billion from investors, including Aker and Nokia, to expedite data center construction. The financial figures and market dynamics indicate a strong market interest in AI infrastructure, with Nscale positioning itself as a neocloud provider, offering a vertically integrated AI cloud platform. This move is part of a broader trend in the AI ecosystem, where specialized GPU-focused operators are gaining prominence due to increased demand for AI compute capacity.