September 28, 2026
Willkie advised Third Point as lead investor in a pre-IPO $3.36 billion convertible funding round for Nscale Limited, the full-stack AI cloud platform.
On September 25, Nscale announced its $3.36 billion raise via convertible loan notes, led by Third Point and supported by new and existing investors. The financing will further accelerate expansion of Nscale's vertically integrated AI cloud platform, which serves hyperscalers, frontier model labs, AI natives, and enterprises building and scaling AI.
The financing consists of an initial $2.36 billion tranche at closing and a subsequent additional $1 billion commitment from NVIDIA. The loan notes are convertible into ordinary shares (or non-voting shares in the case of NVIDIA) automatically upon completion of Nscale's initial public offering.
Third Point LLC is an SEC-registered investment adviser founded in 1995 by Daniel S. Loeb and based in New York City.
The Willkie team was led by partners Gavin Gordon and Miroslav Tomo and included partners Russell Leaf and David Griffiths and associate Lachlan Johnson.
On September 25, Nscale announced its $3.36 billion raise via convertible loan notes, led by Third Point and supported by new and existing investors. The financing will further accelerate expansion of Nscale's vertically integrated AI cloud platform, which serves hyperscalers, frontier model labs, AI natives, and enterprises building and scaling AI.
The financing consists of an initial $2.36 billion tranche at closing and a subsequent additional $1 billion commitment from NVIDIA. The loan notes are convertible into ordinary shares (or non-voting shares in the case of NVIDIA) automatically upon completion of Nscale's initial public offering.
Third Point LLC is an SEC-registered investment adviser founded in 1995 by Daniel S. Loeb and based in New York City.
The Willkie team was led by partners Gavin Gordon and Miroslav Tomo and included partners Russell Leaf and David Griffiths and associate Lachlan Johnson.
