Nscale reports $5.5B in debt—and says it needs more financing

Nscale’s debt jumped from $137 million at the end of June to $5.5 billion at September’s end, according to a filing reported by Axios. Nvidia’s financing commitment reached $2 billion, twice the previously disclosed amount. As it pursues an IPO, Nscale says it needs additional funding to meet projected 2027 obligations and warns there’s no assurance it can secure acceptable terms.