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 recognitio

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.