Nvidia-backed neocloud Nscale released updated paperwork on Thursday for a U.S. initial public offering. In the third quarter, the company reported a net loss of $1.69 billion on revenue of $307.5 million, up 1,344% year over year, compared with a $1.02 billion loss in the second quarter. Nscale did not specify how much it plans to raise on the New York Stock Exchange, while Microsoft abandoned a planned data center in England and declined to renew a contract in Texas. These setbacks contrast with Nscale’s growing business, including an additional Anthropic agreement for a site in West Virginia, as the sector was unsettled by Nvidia CEO Jensen Huang’s resignation.
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