Nick Clegg’s Nscale Stake Could Be Worth $40 Million After IPO

Rich & Famous October 10, 2026

Nick Clegg could see the value of his stake in UK-based data center company Nscale rise sharply if the company completes its planned US stock market listing. The former UK deputy prime minister owns more than 917,000 shares in Nscale, which is reportedly targeting a valuation of up to $35 billion.

Clegg’s holding represents about 0.12% of Nscale. At a $35 billion valuation, his shares would be worth roughly $42 million, or around £30 million.

Instagram | indianexpress | Nick Clegg’s stake in UK data center firm Nscale could surge in value if its reported $35B US IPO goes through.

Clegg joined Nscale’s board alongside Sheryl Sandberg, the former Meta executive. Sandberg owns about 0.25% of the company. Her stake could be worth close to $88 million if Nscale reaches the reported $35 billion valuation.

Those figures depend on the valuation achieved at the time of the flotation. Nscale was last valued at $14.6 billion in a funding round. At that level, Clegg’s stake would be worth about $18 million, while Sandberg’s would be around $37 million.

Both board members receive an annual retainer of $60,000. Forbes has estimated Sandberg’s net worth at $2.4 billion. Clegg has also earned about £24 million from selling shares in Meta, where he previously served as president of global affairs.

Nscale Prepares for US Listing

Nscale filed papers for a US flotation on September 18. The company could begin trading before the end of the year, although the final timing and valuation remain subject to the listing process.

The planned New York listing reflects Nscale’s focus on the growing demand for AI computing infrastructure. The company reported a $1 billion loss on revenue of $140 million for the six months ending June 30.

Nscale said its losses were linked to “substantial investments” in a “highly capital intensive” business. Building and operating data centers requires major spending on computing equipment, power, land, and facilities.

Focus on Sovereign AI

Chief Executive Josh Payne has highlighted sovereign AI as a major opportunity for Nscale. The concept involves countries building their own AI models and infrastructure to reduce dependence on technology from the US or China.

Christine Lagarde, president of the European Central Bank, and Margrethe Vestager, the former EU competition head, have also called for greater European investment in AI infrastructure.

Instagram | @observervoice | High-profile backing from Nick Clegg and Sheryl Sandberg frames Nscale’s US listing amid expensive sovereign AI growth.

Payne said, “Nscale is well positioned to serve this demand as a trusted, sovereign-capable platform.” He added that the need is especially strong in Europe and said the company’s British base makes it a “natural, trusted partner.”

Nscale currently operates five data centers across Europe. Another 12 facilities are in different stages of construction, including projects in the US.

The company has also faced scrutiny over individual projects. The Guardian reported this year that one Nscale development in Loughton, Essex, remains an undeveloped scrapyard.

Nscale’s planned US listing could give investors a clearer view of the company’s value and growth plans. Clegg’s 917,000-plus shares could be worth tens of millions of dollars if Nscale reaches its reported $35 billion valuation. However, the final IPO value may differ once trading begins.

The company’s financial results also show the high costs of building AI infrastructure. Nscale reported significant losses as it continues to invest in data centers and sovereign AI projects.