UK-based artificial intelligence (AI) cloud infrastructure company Enscale is advancing its initial public offering (IPO) process in the United States.
According to reports on September 19, Enscale submitted its application to the Securities and Exchange Commission (SEC) to list on the New York Stock Exchange on September 18 (local time). The stock ticker will be NSCL.
Enscale was established in 2024 as a spin-off from Australian Bitcoin mining infrastructure firm Arkon Energy. It currently operates a network of data centers primarily in Europe and the United States. In September 2025, NVIDIA invested $433 million in the company and participated in an additional funding round in March.
According to the filing, Enscale reported revenue of $140.6 million in the first half of this year, a more than 13-fold increase from $10.4 million during the same period last year.
However, the net loss also grew significantly, rising from $36.89 million to $102 million during the same timeframe.
The number of shares to be offered and the proposed price range have not yet been determined.
Enscale aims for a valuation of $30 billion (approximately 42 trillion won) with this IPO. The lead underwriters for the offering include Goldman Sachs, JP Morgan, and Morgan Stanley.
* This article has been translated by AI.
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