Nscale Adds Fidji Simo to Board Before Potential $3.5 Billion Raise and Fall IPO
Nscale appoints former OpenAI executive Fidji Simo to its board as the UK AI data center startup seeks up to $3.5 billion in new capital.
Summary
Nscale appointed Fidji Simo to its board on September 11, 2026, joining Sheryl Sandberg, Susan Decker and Nick Clegg before the UK AI data center startup’s anticipated fall IPO. Simo was OpenAI’s CEO of AGI deployment, effectively its No. 2 executive, until leaving in July for health reasons; she remains a part-time adviser. She previously led Instacart through its 2023 IPO as chair and CEO, spent more than a decade at Meta, including running the Facebook app, and sits on Shopify’s board.
Founder and CEO Josh Payne said Simo’s experience scaling products used by billions aligns with Nscale’s goal of supporting similarly demanding systems. Founded two years ago, Nscale designs, builds and operates AI data centers, and its valuation has surged with demand for AI infrastructure. It is reportedly seeking up to $3.5 billion before going public, although its exact valuation, fundraising terms and IPO timing remain undisclosed.
Positives
- Fidji Simo brings experience leading Instacart through its 2023 IPO as chair and CEO.
- OpenAI’s former No. 2 executive adds expertise in deploying products and systems at global scale.
- Sheryl Sandberg, Susan Decker and Nick Clegg give Nscale’s board extensive operating, financial and platform experience.
- Nscale’s valuation has surged within two years as demand for AI infrastructure accelerates.
- Up to $3.5 billion in potential funding could support Nscale’s AI data center expansion.
Risks & concerns
- Simo left her OpenAI executive role in July for health reasons, although she remains a part-time adviser.
- Nscale’s proposed raise of up to $3.5 billion has not been formally confirmed.
- The anticipated fall IPO lacks disclosed timing, terms or a confirmed valuation.
- Nscale has provided no exact figure for its sharply increased valuation.