Figure

Humanoid Robotics · AI Infrastructure · Cloud Computing

Partnership

Nscale to supply Figure $3.5B in AI compute, takes equity stake

Nvidia holds equity in both companies, so it profits no matter which side of the deal wins the contract.

• Nscale signed a multi-year deal to supply humanoid robotics maker Figure with an initial $3.5 billion in AI compute, with intent to scale past $6 billion, and took an equity stake in the company.
• Figure builds general-purpose humanoid robots and trains Helix, a vision-language-action model that turns visual and spoken input into real-time motor commands at 200 times per second.
• The agreement covers deployment of up to 100,000 Nvidia Vera Rubin GPUs at Nscale's Barstow, Texas data center, with initial systems arriving in the second half of 2027.
• Nvidia is an investor in both Nscale and Figure, meaning the chipmaker effectively sits on both sides of a hardware contract for its own GPUs.
• Figure last raised more than $1 billion in committed capital at a $39 billion valuation in 2024, so this deal expands an existing relationship rather than starting a new funding round.
• Some investors have criticized this vendor-investor structure as a circular deal that can inflate apparent AI demand, pointing to Nvidia's roughly $99 billion equity portfolio built the same way.
• Nscale is separately pursuing a US IPO seeking to raise as much as $3 billion, with a listing reportedly possible as soon as September 2026.
• The deal shows compute providers are now willing to take equity risk in humanoid robotics customers, treating physical AI training infrastructure as a strategic bet rather than a simple sales contract.