IPO-bound Nscale appoints Meta veteran as operations chief
What's the story
Nscale, an artificial intelligence (AI) infrastructure firm, has appointed Justin Osofsky as its new Chief Operating Officer (COO). The move comes as part of the company's strategy to ramp up its operations ahead of an initial public offering (IPO). Osofsky is a veteran executive who spent 18 years at Meta Platforms Inc. most recently serving as its Chief Partnerships Officer.
Leadership transition
Osofsky will report to CEO Josh Payne
Osofsky will now be reporting to Nscale CEO Josh Payne and will oversee the firm's global operations.
The company, which builds AI data centers in partnership with NVIDIA and Microsoft filed for an IPO in New York last month.
The funds raised from the IPO will be used to meet the growing demand for computing power driven by AI technologies.
Company evolution
Nscale's journey from crypto mining to AI data centers
Nscale was spun off from a cryptocurrency mining operation in early 2024.
The London-based company has since become one of the most prominent data center newcomers, serving as a neo-cloud operator that rents out computing resources to AI developers.
According to Bloomberg News, Nscale is looking to raise up to $3 billion through its upcoming IPO.
Strategic hires
Ex-Meta executives join Nscale's leadership team
Osofsky's appointment adds to a string of strategic hires at Nscale, which already includes several former Meta executives.
These include ex-Meta COO Sheryl Sandberg, who is on Nscale's board and helped recruit former global affairs head Nick Clegg and ex-OpenAI executive Fidji Simo.
Sandberg has even compared Payne's thinking and leadership style to that of her former boss Mark Zuckerberg.