The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

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Nscale (GPU Financing Facility, USD 1.4 billion delayed-draw term loan, February 2026) → Nscale

$1.4B — Nscale's S-1 stated that in February 2026 Nscale entered into a credit agreement providing for a senior secured delayed-draw term loan facility with aggregate commitments of approximately USD 1.4 billion (the GPU Financing Facility), through its subsidiary Nscale Services UK Limited. The S-1 does not name the lenders in the cited passage.

high confidence · as of 2026-02-11T00:00:00Z · about Nscale

$1.4B — Nscale's S-1 stated that in February 2026 Nscale entered into a credit agreement providing for a senior secured delayed-draw term loan facility with aggregate commitments of approximately USD 1.4 billion (the GPU Financing Facility), through its subsidiary Nscale Services UK Limited. The S-1 does not name the lenders in the cited passage.

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$1.4B — Nscale's S-1 stated that in February 2026 Nscale entered into a credit agreement providing for a senior secured delayed-draw term loan facility with aggregate commitments of approximately USD 1.4 billion (the GPU Financing Facility), through its subsidiary Nscale Services UK Limited. The S-1 does not name the lenders in the cited passage.

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