According to people familiar with the matter, cloud computing company Nscale, which focuses on artificial intelligence, is in talks with potential investors and plans to raise up to $3.5 billion before its initial public offering. According to people familiar with the matter, the London-based company is seeking to sell up to $1.5 billion in convertible notes to a group of investors. As the information is confidential, they requested anonymity. One of the people familiar with the matter said that Nscale also plans to get around $2 billion in financing from Nvidia. Earlier reports said that the company's initial public offering could raise another $3 billion. According to some people familiar with the matter, Daniel Loeb's Third Point will lead this convertible note investment. People familiar with the matter also said that Goldman Sachs Group is assisting with this financing. People familiar with the matter said that relevant negotiations are still ongoing, details such as the scale of financing and investors may change, and no final decision has yet been made.

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