IPO-bound Nscale appoints ex-OpenAI executive Fidji Simo to board
What's the story
UK-based AI data center start-up, Nscale, has announced the appointment of Fidji Simo to its board. The former OpenAI executive will join other tech veterans such as Sheryl Sandberg, Susan Decker, and Nick Clegg. The move comes ahead of Nscale's expected initial public offering (IPO) this fall. Simo was previously the CEO of AGI Deployment at OpenAI and had a successful stint at Instacart as its chair and CEO.
Career highlights
Simo's extensive experience in tech
Before OpenAI, Simo led Instacart through its 2023 IPO. She also spent over a decade at Meta, where she was the head of the Facebook app.
Currently, Simo is still advising OpenAI on a part-time basis and sits on Shopify's board.
Nscale's founder and CEO Josh Payne said Simo is one of the few leaders who understand what it means to scale products used by billions of people.
Expansion strategy
Nscale's growth and future plans
Since its inception two years ago, Nscale has seen its valuation soar due to the increasing demand for AI infrastructure. The start-up designs, builds, and operates AI data centers.
According to Bloomberg, the company is looking to raise up to $3.5 billion ahead of its planned IPO.
Simo's appointment is seen as a strategic move toward achieving these ambitious financial targets.