Nscale seeks about $3.5 billion pre-IPO funding, source says

Sept 4 : Cloud infrastructure provider Nscale is in talks with potential investors to raise about $3.5 billion in pre-IPO funding, a source familiar with the matter said on Friday.Nscale intends to sell as much as $1.5 billion of convertible notes to a group of investors and aims to secure about $2 billion from Nvidia, the source said.Goldman Sachs is working on the fundraising, with New York-based hedge fund Third Point set to lead the convertible note investment, the person added.The convertible notes are being offered at a double-digit discount to Nscale's IPO price, the source said. The discount would be adjusted up to a $30 billion valuation, above which the conversion price would remain unchanged, the source said. Goldman Sachs, Third Point and Nvidia did not immediately respond to R