PremiumNscale's $32 Billion Problem: Neocloud Admits It Has "Not Obtained Binding Commitments" To Fund Its Anthropic Megaproject As Debt Needs Explode
The good news for Nscale: revenue is up 1,344%. The bad news: so is pretty much everything it owes.
On Thursday, the Nvidia-backed British neocloud filed Amendment No. 1 to its S-1, adding the third quarter to its numbers. As Reuters noted, nine-month revenue came in at a preliminary $307.5 million, up from $21.3 million a year ago, while the net loss more than tripled to $1.69 billion. Do the math, technically the subtraction, and Q3 alone lost roughly $672 million on about $167 million of revenue, i.e., about $4 out the door for every $1 in.