Nscale acquires Anyscale for about $1.65 billion in AI cloud deal

Nscale, a UK-based AI neocloud, agreed on July 30, 2026 to acquire Anyscale, the company behind the open-source Ray platform, for about $1.65 billion, the two firms said in a joint announcement.

The deal is a bet that owning both the compute and the software that runs on it beats renting out raw graphics processing units. Anyscale’s Ray platform scales AI data processing, training, inference and reinforcement-learning workloads across large clusters, the layer that sits between chips and finished models.

Anyscale’s roughly 200 employees across the US, Europe and India will join Nscale, and Anyscale will keep its brand and continue serving existing customers. Nscale Chief Executive Josh Payne said the acquisition completes “a truly vertically integrated AI cloud platform.” Anyscale CEO Keerti Melkote called the combination “the first full-stack AI hyperscaler.”

Neoclouds, the GPU-focused rivals to Amazon, Microsoft and Google, have raced to differentiate as capacity floods the market. Nscale’s answer is to move up the stack, selling managed software rather than bare metal alone.

The purchase caps a fast run for Nscale, which raised a $2 billion Series C in March 2026 at a $14.6 billion valuation from backers including Nvidia, Nokia, Blue Owl, Dell and Aker. Anyscale was last valued at $1.38 billion in a 2022 Series C and has reported 70% sequential quarterly revenue growth.

Those figures are the companies’ own, and the revenue growth was not independently verified. The deal is expected to close in the second half of 2026, subject to regulatory approval.