Nscale's revenue is highly dependent on two major clients, Microsoft and Anthropic, with approximately 85% of its contracted revenue derived from a $43.8 billion computing supply agreement with Microsoft (extending to 2033) and a $44.6 billion supply agreement with Anthropic. The Anthropic agreement is also contingent on Nscale securing financing and meeting strict milestones. The company reported $140.6 million in revenue and a net loss of $1.02 billion in the first half of the year. Previously, NVIDIA provided Nscale with $1 billion in convertible notes as part of a $3.1 billion financing agreement.