Nscale, an AI data center developer backed by Nvidia and Microsoft, has secretly filed for an IPO with the U.S. Securities and Exchange Commission to fund equipment purchases amid surging demand for AI computing power. The company reported revenue of $140.6 million and a net loss of $1.02 billion in the six months ended June 30, up sharply from $10.4 million in revenue and a $368.9 million loss during the same period last year. Spun off from crypto mining firm Arkon Energy, Nscale focuses on AI data centers, GPU computing, and energy infrastructure. In July, the company announced the acquisition of distributed AI software firm Anyscale for approximately $1.65 billion, adding clients including Coinbase, Runway, and Bedrock Robotics to its portfolio.