British AI cloud provider Nscale, spun out of Arkon Energy two years ago, disclosed over $103 billion in contracts ahead of its NYSE listing, but roughly 85% of that value comes from just two customers: Microsoft and Anthropic. The Anthropic deal remains conditional on Nscale securing financing and hitting milestones the company itself calls stringent, with Anthropic free to cancel if targets are missed. Nscale is targeting a $35 billion valuation and hopes to raise $3 billion, despite posting a $1.02 billion net loss on $140.6 million in revenue for the first half of the year.
Oura's upcoming IPO will offer 50 million shares priced between $40 and $44, but nearly two-thirds of those shares are being sold by existing shareholders rather than the company itself. Forerunner Ventures, an early backer since 2020, stands to collect roughly $1.2 billion by selling its entire stake, accounting for about 80% of shares sold by insiders. Oura itself expects to net around $532.6 million, most of which will go toward covering tax obligations tied to vesting employee shares.
A financial presentation seen by the Financial Times shows OpenAI expects to spend $278 billion more than it earns between 2026 and 2030, driven mainly by $856 billion in compute and infrastructure costs. Even as revenue is projected to jump from $36 billion in 2026 to $350 billion in 2030, spending will still outstrip income by a wide margin. The figures were reportedly shared with investors ahead of OpenAI's anticipated IPO.
Google's Gemini AI model is being integrated into hacking and cybersecurity contexts, joining a broader wave of AI adoption across tech products this week. Separately, Apple is rolling out an upgraded Siri with more advanced capabilities on iPhones, while Anthropic weighs the timing of a potential IPO.
Prediction market Polymarket allowed a scheme involving stolen debit cards to proceed despite internal warnings, with CEO Shayne Coplan reportedly dismissing concerns raised about the fraud. The company is now moving to strengthen its executive leadership team as it positions itself for a potential public listing.
Reports indicate Anthropic's anticipated initial public offering will now arrive roughly a month later than earlier projections suggested. The AI company, one of the most closely watched startups in the sector, has not detailed the specific reasons behind the shift in timing.
Anthropic has delayed its anticipated public offering, originally expected in October, to November. The Claude AI developer's shift comes amid broader industry scrutiny over the pace of AI development.
Nscale, a London-based cloud provider focused on AI infrastructure, has filed for an initial public offering on the New York Stock Exchange under the symbol NSCL. Its prospectus shows revenue jumped over 1,250% to $140.6 million in the first half of 2026, though the company posted a $1.02 billion net loss for the period and reports $56.4 billion in remaining performance obligations. Nscale rents out Nvidia GPUs to clients including OpenAI, Anthropic and Microsoft, and one undisclosed customer made up more than half of its first-half revenue.
Chinese AI startup Manus is reportedly negotiating a $500 million funding round valuing it at $4 billion, according to the Wall Street Journal, after resuming operations as an independent company. Prospective backers include IDG Capital, Boyu Capital, CATL, and returning investors Tencent, HSG and Zhenfund, with the company also weighing a restructuring ahead of a possible Hong Kong IPO.
At Fast Company's Innovation Festival, Nasdaq president Nelson Griggs discussed with senior writer Ainsley Harris how prospective massive public listings from AI leaders such as Anthropic and OpenAI could transform public markets. He framed these mega-IPOs as a distinct new category that could alter how capital flows into major industries and the broader economy.
SpaceX has completed a record-breaking IPO, and reports indicate Anthropic is targeting a valuation of $2 trillion or more for its own public offering, with OpenAI also considering going public. Together these potential listings could rank among the largest in market history and significantly influence how capital flows through public markets.
Valor Equity Partners, the venture firm led by SpaceX board member Antonio Gracias, has transferred about 8.5% of its SpaceX stake—roughly $8.5 billion worth—directly to its limited partners rather than selling shares and returning cash. An SEC filing shows Valor retains more than 460 million shares after the distribution.
GoKawiil