Nscale

Haseeb ＞|＜

@hosseeb

Weird but true: without crypto, the current AI boom would not have been possible. Today's data center buildout would've been impossible without Bitcoin miners spending a decade building the knowhow around power, sites, and scale in remote locations. Nvidia could not moved beyond gaming to specialized compute without crypto mining as the bridge. And the biggest neoclouds are almost all ex-crypto talent: @CoreWeave, @CrusoeAI, @togethercompute, @nscale, etc.

matthew sigel, recovering CFA

@matthew_sigel

Looks like NC-1 (site where they have 40MW contract with Nscale for $865M) is nearing completion, a bit behind schedule. Originally expected early June after slight delay at end of May. $WYFI

Jim Liu

@jiahanjimliu

Nscale: Tip of Iceberg on DC Delays Nscale is the appetizer for DC delays, we will see more in 2027. Nscale has already admitted delays for it's Norway site to be delivered in 2027. This is despite $BE having spare capacity from Oracle backing out (1) and the fact that $BE is able to deploy in 55 days (2). Meanwhile 5C Group is trying to power 380MW from $FCEL fuel cells (3). $BE Fuel Cells are legit but $FCEL Fuel Cells have commercialization risks (4). Then, we have Firmus AI, ran by Oliver Curtis. This is the same Oliver Curtis that served 12 months of a 2-year sentence for insider trading in 2017 (5). The insider trades he made? 45 illicit trades which earned him and partner in crime John Hartman a total of $1.43 million (5). That's less than what some influences on X earn this year and Oliver Curtis resorted to insider trading to get there. Now Oliver is worth $1.25B because FirmusAI has a crazy private valuation 7B with 0 active MWs and some pipeline which was enough to convince Nvidia to parter with them to build to DSX specs in Batam, Indonesia. SharonAI $SHAZ CEO, James Manning hasn't been to jail but he's that's because he's more savy. "U.S. Bankruptcy Judge Mary F. Walrath said the order was necessary because there was “enough smoke” to question whether the involuntary Chapter 11 petition against Mawson was filed in bad faith, possibly in collusion with the company’s former CEO, James Manning" (7). "In a January filing, Mawson alleged Manning had engaged in “self-dealing" including more than $11 million in payments to a shipping company, Flynt International Cargo Solutions, that the miner “did not need.” Mawson said Manning had an ownership stake in Flynt" (7). Next, we have Crusoe who got pushed out of their Wyoming site because they couldn't meet deadlines and now Google's taking direct control (8). Crusoe also lost Oracle on it's Abilene expansion because of delays (9). Crusoe is signing HS contracts left and right but losing them when it comes time to deliver. What's the point of signing again? To pump Crusoe's private valuation to 30B. Even Oracle $ORCL, is 12-18 months delayed for it's 2.45GW Project Jupiter Site in NM (10). What do all these delays have in common? Access to Firm power. For who have been paying attention $IREN is pass it's liquid cooling mishap at H1 and will be getting GPU prioritization. IREN is set to deliver H1 July 19 and the market will learn the difference between: 1. Delay due to ramp and GPU Prioritization. 2. Delay due to power at scale. The later is much harder to fix and will financially sink some companies.

Beth Kindig

@Beth_Kindig

AI data center startup Nscale has received a $900 million line of credit to help expand its data center operations in the US, Europe and Asia, following a $2 billion funding round earlier this year. $NVDA $MSFT $GOOG

JustDario

@DarioCpx

BREAKING: NSCALE finally filed its financials till 31 Dec 2024, and I believe is the first major neocloud company to disclose a "going concern" (that appears when Directors acknowledge the chance of the company going out of business in 12 months without more funding) https://t.co/rdmAImYrLx

StockChaser

@StockChaser_

$WYFI is now at better prices A lot of investors were hyping the stock close to $45 after it had already rallied 330% The thesis itself makes sense: • 65MW operational / power-delivered capacity • 99MW secured capacity at NC-1 • 1.5GW development pipeline (large relative pipeline) Of that, 40MW IT is already contracted under Nscale’s 10-year $865M deal At a 912M market cap, WhiteFiber is targeting: • 76 MW gross online by YE2026 • 80MW IT potential at NC-1 by YE2027 • 99 MW gross secured at NC-1 by May 2029 Based on the Nscale economics, we get the ARR calculations • YE2026 ARR: $106M • YE2027 ARR: $175–185M (with only NC-1 expansion) That implies a YE2026 market cap / ARR of 8.6x which isnt cheap ($NBIS trades lower) But the main differentiator: equity dilution has remained low so far, with shares increasing only 0.69% last quarter The thesis is debate between capacity deployment and dilution

Former Microsoft Head of AI Infrastructure and Intel data center leader; now oversees Nscale’s global AI infrastructure engineering and operations.

Todd Sauer

Vice President of Construction NA

Previously at Yondr Group · Charlotte, North Carolina, United States

Joined Jun 2026

Richard Hage

SVP, Data Centers

Previously at Oracle · Greater Seattle Area

Joined May 2026

Edwin Van Velzen

Senior Vice President of Development Delivery & Construction EMEA

Previously at Vantage Data Centers · Switzerland

Joined May 2026

Mike Denisar

VP, MEP & Project Delivery

Previously at Oracle · Ashland, Virginia, United States

Joined May 2026