Key points
- Nscale names a Meta veteran as COO
- The hire comes ahead of its planned NYSE listing
- Former Meta leaders already sit on its board
Nscale, the London-based AI cloud company preparing to list on the New York Stock Exchange, has hired Justin Osofsky as chief operating officer. Osofsky spent 18 years at Meta Platforms (META), most recently as chief partnerships officer, and will report to founder and Chief Executive Josh Payne.
The hire comes about two weeks after Nscale filed publicly for its IPO under the ticker NSCL.
Osofsky ran operations and partnerships at Meta
Before his partnerships role, Osofsky was chief operating officer of Instagram, vice president of global operations at Meta and head of Meta's small and medium business group, according to Nscale. At Nscale, he'll lead the company's people, EMEA, APAC, business development, communications, marketing, global policy and M&A teams.
The IPO filing listed no COO
The registration statement Nscale filed on Sept. 18 lists seven executive officers, led by Payne and Chief Financial Officer Alice Takhtajan. None is a chief operating officer.
Osofsky isn't the only Meta veteran at the company. Nscale's board includes former Meta Chief Operating Officer Sheryl Sandberg and Nick Clegg, Meta's former president of global affairs, according to the same filing. Fidji Simo is also a director.
Nscale hasn't disclosed a price range
Nscale publicly filed for its IPO in September after submitting a confidential draft on Feb. 17. It has not yet disclosed a price range. The company has been looking to raise as much as $3 billion, according to Bloomberg.
Before the IPO, Nscale raised $2.36 billion in convertible notes led by Third Point. Nvidia (NVDA) committed another $1 billion, with that investment expected to close in mid-November. The notes convert into shares when the IPO is completed.
