The Information reports Nscale told potential investors its contract backlog is
about $103.0 bln after securing a $45.0 bln compute agreement with Anthropic.
Documents show Nscale had disclosed roughly $51.0 bln of contracted revenue
before the Anthropic deal; the backlog rose further with the Anthropic order and
other AI customer contracts. Average contract length is about 5.7 years,
implying an annualized run-rate of roughly $18.0 bln, but the filings do not
specify expected revenue recognition. Nscale plans an IPO as early as this
month.
