Nscale is telling prospective investors it has roughly $103 billion in total contracted revenue ahead of an initial public offering that could launch as soon as this month, The Information reported, citing investor documents. The figure doubles the previously disclosed $51 billion and is driven primarily by a $45 billion, six-year agreement to supply AI computing power to Anthropic at a West Virginia campus with more than 1.35 gigawatts of planned capacity. Separately, Nscale and humanoid-robotics company Figure agreed to a compute collaboration initially valued at $3.5 billion that could exceed $6 billion, covering up to 100,000 NVIDIA Vera Rubin GPUs for Figure’s Helix AI models and including an undisclosed strategic investment by Nscale in Figure. Deployments are slated to begin in the second half of 2027 at a site in Barstow, Texas. Figure, founded in 2022 by Brett Adcock, has raised more than $2 billion in total funding and carried a $39 billion Series C valuation with backing from investors including NVIDIA, Microsoft, and OpenAI. Nscale closed a $2 billion funding round in March 2026 at a $14.6 billion valuation. Internal documents estimate second-quarter revenue above $100 million, up from roughly $37 million in the first quarter, before any contribution from the recently finalized Anthropic contract.