Nscale's North Carolina borrower enters a $1.2B delayed-draw term loan to finance GPUs, arranged by Goldman Sachs and JPMorgan

The parties

• Nscalecompany pageBorrower
• Goldman SachsLender
• JPMorgan ChaseLender

The source

Nscale Form S-1, filed 2026-09-18Regulatory filing

Credit agreement dated 2026-08-27; borrower Nscale NC Borrower SPV, LLC. $370.0M fixed-rate and $830.0M floating-rate delayed-draw commitments. Floating: three-month Term SOFR + 2.375% (or base rate + 1.375%), 0.00% floor. Fixed: SOFR + 2.375% plus the applicable USD SOFR swap rate, set before funding. Matures December 2031. Finances GPU infrastructure capex in North Carolina. Goldman Sachs Bank USA and JPMorgan Chase Bank, N.A. are joint lead arrangers, joint bookrunners and co-structuring agents (Exhibit 10.24).

The same parties, other deals

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• Nscale agrees to acquire Anyscale for $1.65B, settled in Nscale equity$1.65B · 18 Sept 2026
• Dell Financial Services leases computing equipment to Nscale under 40 schedules totalling about $2.54B of initial-term rent$2.54B · 18 Sept 2026
• Nscale signs a multi-year GPU services agreement with Figure AI and takes a strategic stake in Figureundisclosed · 18 Sept 2026
• Nscale Services UK enters a $1.4B senior secured delayed-draw term loan to finance GPUs, at Term SOFR plus 5.00%$1.4B · 18 Sept 2026