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Nscale loses potential Microsoft deal worth tens of billions

Published

Long empty data centre corridor lined with server racks under blue light.

The UK AI start-up Nscale, which wants a stock market listing at a $35bn valuation, faces a fresh test after missing out on the deal. A newspaper exclusive says the contract was worth tens of billions of dollars.

Nscale is described as the most valuable AI start-up in the UK. Its plans for a listing now face more doubt after the loss of the potential Microsoft contract.

Key facts

Who
Nscale (UK AI start-up seeking a $35bn stock market listing); Microsoft (company that did not award Nscale a potential deal); A&O Shearman (law firm investing $1.1bn in its AI strategy over five years)
What
The article reports that Nscale's ambitions for a $35bn stock market listing face a fresh test after it lost out on a potential Microsoft deal worth tens of billions of dollars. A separate item notes A&O Shearman will invest $1.1bn in its AI strategy over five years. Body text is only the standfirst; no further detail is given.
When
5 November 2026
Status
Reported

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