NVIDIA agrees to buy $1.0B of Nscale convertible notes or non-voting shares within a $3.1B minimum subscription

The parties

• NVIDIAcompany pageInvestor
• Nscalecompany pageTook the investment

The source

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

Subscription Agreement dated 2026-09-15 for a minimum aggregate $3.1B: $2.1B of unsecured convertible loan notes and a further $1.0B of unsecured convertible loan notes or non-voting shares to be issued to NVIDIA (the NVIDIA Sale). The notes convert automatically on completion of the IPO. The NVIDIA Sale will close on or around 2026-11-16. The holders of the other $2.1B are not named in the passage read.

The same parties, other deals

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• Nscale signs a multi-year GPU services agreement with Figure AI and takes a strategic stake in Figureundisclosed · 18 Sept 2026
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