Nscale chief Josh Payne targets $30 billion valuation in U.S. IPO
The AI data center developer, which started in bitcoin mining, says it has signed $103 billion in contracts.
By The Carnegie Standard Staff
· 1 min read
Nscale founder and chief executive Josh Payne told staff in a memo that the company will proceed with its planned U.S. public listing on its existing timetable and is seeking a valuation of $30 billion, TokenPost reported on October 29, 2026.
"The numbers speak for themselves," Payne wrote, according to the report.
Nscale, which shifted from bitcoin mining into the development of data centers for artificial intelligence workloads, said it has signed contracts worth $103 billion. Potential demand attached to those agreements amounts to 10 gigawatts of computing capacity. The company had delivered 55 megawatts as of August 2026.
The target comes as investors have resisted the valuation Nscale has proposed for the offering, TokenPost reported. The company's data center projects have run into delays and operational problems.
This story was first reported by www.tokenpost.com.
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