New York Stock Exchange
World's largest stock exchange by market value, based in New York
On 18 September 2026, British AI infrastructure firm Nscale filed to list on the New York Stock Exchange, seeking a $14.6 billion valuation against a $103.4 billion order book.
Last refreshed: 22 September 2026
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Mentioned in: Nscale files for New York at $14.6bn
UK Startups and InnovationBackground
Intercontinental Exchange owns the New York Stock Exchange, the US venue most large companies choose for the biggest listings, based in Lower Manhattan. The exchange traces its origins to 1792, making it one of the oldest continuously operating securities markets in the world.
ICE's ownership gives the exchange a shared technology and clearing infrastructure with the rest of the group's derivatives and data businesses, part of what keeps it the default choice for the largest global listings, including companies headquartered outside the United States.
British companies weighing a US listing over a London one regularly cite the NYSE's deeper liquidity pools and higher valuations for capital-intensive technology businesses, a draw that has pulled several UK-founded firms across The Atlantic for their public debuts.
NYSE gains a British AI listing
Nscale's Form S-1, filed 18 September, targets the NYSE after Britain's own semiconductor listing window failed to reopen this year, pulling another high-profile UK technology company across the Atlantic for its public debut . The gap between Nscale's $103.4 billion contracted order book and its quarterly revenue of just over $100 million is the figure investors will have to price before the listing completes.
For the NYSE, the filing extends a run of AI-infrastructure listings choosing New York over London, reinforcing the exchange's pull for capital-intensive AI companies even when the underlying business is British.