$103.4 billion in contracts, with Microsoft (MSFT.US) and Anthropic accounting for 85% combined: How fragile is Nscale's (NSCL.US) IPO story?

Zhito Finance APP has learned that UK AI data center developer Nscale (NSCL.US) submitted an S-1 registration statement to the U.S. Securities and Exchange Commission last Friday, planning to list on the New York Stock Exchange under the ticker "NSCL." Among the details, the most eye-catching figure in the prospectus is the total contract value of $103.4 billionthis company, founded only two years ago, has already reached a contract scale comparable to some established infrastructure giants.