Convertible Financing

Nscale • Convertible financing

British AI neocloud Nscale secured $3.36B in convertible financing led by Third Point ahead of its US IPO. $2.36B is available immediately, with an additional $1B from Nvidia expected in November.

Z.ai • Combined financing

Z.ai completed a combined financing round of around $5 billion, including about $2 billion from a share placement and roughly $3 billion through convertible bonds, to fund next-generation GLM foundation models.