Nscale has bet on vertical integration, from energy and data centers to compute and orchestration software. Its new valuation stems from a $2 billion Series C, which it calls "the largest in European history," though the figure includes a $433 million pre-Series C SAFE backed by Blue Owl, Dell, Nvidia and Nokia in October.
The details, discussed by SpaceX's board of directors on Thursday at its Starbase hub in Texas, could change based on interest from insider sellers and buyers or other factors, said some of the people, who asked not to be identified as the information isn't public. SpaceX is also exploring a possible initial public offering as soon as late next year, one of the people said.
Indian quick commerce startup Zepto said it has raised $400 million in a funding round led by a new investor, California Public Employees' Retirement System (CalPERS), a U.S.-based pension fund. The round, which is a mix of primary and secondary investment, also has participation from existing investors, including Avenir, Avra, Lightspeed, Glade Brook, The Stepstone Group, and Nexus Venture Partners. After this funding, the company plans to go public next year.