Nscale's AI cloud sells GPU capacity and related services from data centers it builds, to customers including Microsoft, under an agreement announced in October 2025 worth $14 billion for 200,000 Nvidia chips, and Anthropic, under a roughly $45 billion, six-year agreement for its West Virginia campus.
Contracts are bespoke and pricing is not public. The company's filing shows a $1.02 billion first-half 2026 net loss on $140.6 million of revenue and a backlog it puts at $103 billion.