{"version":"1.0","type":"card","id":"d49faeba-617f-4dcc-8aa6-e4395a73d798","url":"https://stacklist.com/card/d49faeba-617f-4dcc-8aa6-e4395a73d798","title":"TechCrunch — Nscale's pre-IPO convertible","source_url":"https://techcrunch.com/2026/09/25/ahead-of-u-s-ipo-british-ai-neocloud-nscale-secures-3-36b-in-convertible-finacing/","note":"Nscale closed $2.36B of a $3.36B pre-IPO convertible ahead of a US listing — a convertible that converts on IPO, not straight equity.","image":{"url":"https://ucarecdn.com/15649e6b-3421-40c3-91a5-c9857f164f81/","alt":"TechCrunch — Nscale's pre-IPO convertible","width":1200,"height":800},"stack":{"id":"cd56e1a1-45bb-4978-945b-4a9e71b13b5f","title":"Signals Served #030 — The Marks Are Still Waiting for Cash","url":"https://stacklist.com/c/finance/stack/cd56e1a1-45bb-4978-945b-4a9e71b13b5f"},"created_at":"2026-09-28T18:44:43.949Z","updated_at":null,"aco":{"summary":"Nscale, a British neocloud company, has secured $3.36 billion in convertible financing ahead of its expected IPO later in 2026, with the funding led by hedge fund Third Point and including $1 billion from existing investor Nvidia. The company, which was spun out of Arkon Energy two years ago, has amassed over $103 billion in contracts and is expected to be valued at $35 billion on the NYSE.","tags":["ai-infrastructure","convertible-financing","ipo","nscale","data-centers","venture-capital"],"key_entities":[{"name":"Nscale","type":"organization","confidence":0.99},{"name":"Third Point","type":"organization","confidence":0.95},{"name":"Nvidia","type":"organization","confidence":0.98},{"name":"Arkon Energy","type":"organization","confidence":0.92},{"name":"Marina Temkin","type":"person","confidence":0.85},{"name":"Norway","type":"location","confidence":0.9},{"name":"West Virginia","type":"location","confidence":0.9},{"name":"NYSE","type":"location","confidence":0.95},{"name":"convertible-note","type":"concept","confidence":0.97},{"name":"ai-data-centers","type":"concept","confidence":0.96}],"classification":"analysis","language":"en","confidence":0.85,"provenance":{"model":"claude-haiku-4-5","tool":"@stacklist/mcp-server@2.0.0","confidence":0.85,"timestamp":"2026-09-28T18:44:50.590Z"},"token_counts":{"approximate":710,"cl100k":625},"content_hash":"sha256:027cc23cbfb43c88522fa4eb3bc1711021a0d07b7136e2889c3a39d3868cf744","acp_version":"0.2","body_available":true,"body_tokens":710,"visibility":"public","agent_accessible":true,"status":"final"},"_links":{"self":"/api/public/card/d49faeba-617f-4dcc-8aa6-e4395a73d798.json","html":"https://stacklist.com/card/d49faeba-617f-4dcc-8aa6-e4395a73d798","md":"/api/public/card/d49faeba-617f-4dcc-8aa6-e4395a73d798.md","stack_json":"/api/public/stack/cd56e1a1-45bb-4978-945b-4a9e71b13b5f.json"}}