Nvidia-backed Nscale files for US IPO, reportedly targeting a valuation near $30 billion

Nvidia-backed Nscale has filed for a US IPO with a reported valuation target near $30 billion, according to posts discussing the filing. One says the company plans to list on the NYSE under NSCL. That post questions the valuation despite rapid revenue growth, pointing to steep losses and saying 52% of revenue comes from one customer. It argues that the valuation rests on whether what it describes as more than $103 billion in contracted revenue ultimately becomes revenue and cash flow.