Nscale’s debt jumps to $5.5 billion ahead of IPO, Axios reports

Axios reports Nscale’s debt jumped from $137 million at the end of the second quarter to $5.5 billion at the end of the third. Its updated filing warns that more financing is needed for projected 2027 obligations, with no assurance of acceptable terms. CNBC reports a $1.69 billion third-quarter net loss on $307.5 million in revenue. Axios says Nvidia committed another $1 billion in financing.