AI Compute Deals

Nscale AI compute deals

Nscale is party to 5 deals in the ledger, the seller or provider in all 5. The 2 with a stated price add up to $48.1B in headline value. Stated capacity: 0.69 GW. Counterparties: Figure, Anthropic, Microsoft, OpenAI.

Verified 9 Nov 2026. Sums count each row’s headline figure as stated, cancelled deals excluded. Open in the full ledger

  1. Figure–Nscale $3.5B compute deal (up to 100,000 Vera Rubin GPUs)

    Sells to Figure

    Initial compute commitment; the companies intend to scale it to over $6 billion. Size of Nscale's equity investment in Figure not disclosed.

    $3.5B1 signed

  2. Anthropic–Nscale GPU services agreements (up to ~$44.6B)

    Sells to Anthropic

    ≠ Up to approximately $44.6 billion, fees accruing only as capacity is delivered (Anthropic S-1/A); first reported by Bloomberg and CNBC as about $45 billion. Nscale must secure financing within a set period. 460 MW is from CNBC's sources.

    $44.6B1 0.46 GW signed

  3. Microsoft–Nscale ~200,000 NVIDIA GB300 GPUs (US and Europe)

    Sells to Microsoft

    Not disclosed by Nscale. CNBC reported the contract is worth up to $24 billion.

    n/d signed

  4. Stargate UK (Nscale, OpenAI, NVIDIA)

    Sells to OpenAI

    No value disclosed. An offtake OpenAI 'will explore', not a firm commitment.

    n/d announced

  5. Stargate Norway (Nscale, Aker, OpenAI) in Narvik

    Sells to OpenAI

    No value disclosed. Nscale later rolled up the Aker JV, announced a Microsoft expansion at Narvik (14 Apr 2026) and raised $790 million of financing for it (11 May 2026). Nscale's 2026 releases do not name OpenAI as the Narvik offtaker.

    n/d 0.23 GW announced