Nscale Acquires Anyscale in $1.65 Billion Deal to Build Full-Stack AI Hyperscaler

Executive Briefing

• Nscale entered into a definitive agreement to acquire San Francisco-based AI software platform Anyscale.
• The transaction values Anyscale at approximately $1.65 billion, according to a report by Bloomberg.
• Anyscale will retain its independent brand, and its 200-person workforce will join London-based Nscale.

London-based AI cloud platform Nscale announced a definitive agreement on July 30, 2026, to acquire Anyscale, the software company created by the developers of the open-source Ray framework.

The transaction combines Nscale’s infrastructure assets (including power generation, data center real estate, and GPU compute clusters) with Anyscale’s workload orchestration software.

Official corporate announcements from both entities did not reveal the financial purchase price.

Bloomberg reported the deal valuation at approximately $1.65 billion, citing a source familiar with the matter.

The transaction is scheduled to close in the second half of 2026, pending regulatory approvals and standard closing conditions.

Goldman Sachs International served as lead financial advisor to Nscale, while Morgan Stanley & Co. LLC acted as financial advisor.

Josh Payne, Chief Executive Officer and Founder of Nscale, outlined the rationale behind combining power infrastructure with software tools in a statement released Thursday.

"Most infrastructure providers just buy GPUs and rent them. Nscale is doing something unique. We build and own every layer ourselves: the power, the data centers, the compute, and the software that turns them into an AI cloud," Payne said.

"Anyscale extends that offering with managed services that AI teams use to scale any workload, completing a truly vertically integrated AI cloud platform. With this acquisition, customers get the compute and the platform to process data, train and fine-tune models, run inference, and deploy agents – all in one place."

Keerti Melkote, Chief Executive Officer of Anyscale, stated that pairing software tools with physical compute capacity addresses resource demands from enterprise users.

"By combining Anyscale's platform, built on Ray – the open standard for scaling AI, with Nscale's data centres, compute and AI cloud services – we're creating the first full-stack AI hyperscaler: one that runs any AI workload at greater scale and lower cost, so more companies can build and own their AI," Melkote said.

"Doing that well requires the software and the infrastructure it runs on to be designed together," Melkote added.

Anyscale will continue to operate under its existing brand while serving its established enterprise client base.

Its customers include Coinbase, Runway, and Bedrock Robotics.

Approximately 200 staff members based across the United States, Europe, and India will join Nscale following the transaction's completion.

Anyscale's software distributes tasks across large accelerator clusters, covering data processing, fine-tuning, reinforcement learning, and model inference.

Anyscale clients maintain the ability to choose their preferred underlying cloud infrastructure.

Nscale will offer its unified cloud platform as an additional deployment option for Anyscale software users in future updates.

Anyscale founders created Ray, a widely adopted open-source framework used to scale Python and AI workloads.

Governance of the Ray project transferred to the PyTorch Foundation under the Linux Foundation in October 2025.

The open-source Ray framework remains community-governed and separate from Nscale's commercial acquisition.

Nscale stated it will join the PyTorch Foundation as part of the acquisition agreement.

The transaction follows several capital commitments by Nscale during 2026.

Nscale entered into a letter of intent with Microsoft in March 2026 covering over 1 gigawatt of power capacity.

Nscale committed $2.5 billion to UK data center investments and secured a $900 million revolving credit facility in July 2026, syndicated through banks including J.P. Morgan, Goldman Sachs, and Morgan Stanley.

Anyscale previously secured $100 million in funding at a $1 billion valuation during its Series C round in 2021.