Nscale Hires Former Meta Executive Ahead of $3 Billion IPO

Nscale appointed former Meta Platforms Inc. executive Justin Osofsky as chief operating officer to oversee global operations. Osofsky, previously Meta's chief partnerships officer, reports to CEO Josh Payne. The leadership move comes as the London-based AI infrastructure developer prepares for an initial public offering on the New York Stock Exchange following a confidential filing in September.

The company intends to raise up to $3 billion to expand data center capacity and acquire specialized hardware to meet increasing demand for AI computing power. Spun off from a cryptocurrency mining operation in early 2024, Nscale has already established partnerships with Microsoft Corp. and Nvidia Corp.

Nscale has recruited several high-level former Meta executives to its leadership and board. In addition to Osofsky, the company's board includes Sheryl Sandberg, Nick Clegg, and Fidji Simo.