Sir Nick Clegg in line for up to £30m from AI deal

Former Meta executive and UK Deputy Prime Minister Sir Nick Clegg is poised to earn up to $42 million (£30 million) following the Wall Street initial public offering (IPO) filing of British AI data centre startup Nscale. Clegg, who joined Nscale's board six months ago alongside former Meta colleague Sheryl Sandberg, holds 917,460 shares representing roughly 0.12% of the company's equity, alongside an annual retainer and share bonus. Nscale, backed by chip giant Nvidia, has filed for an IPO on the New York Stock Exchange and is reportedly targeting a valuation of up to $35 billion, up sharply from its prior $14.6 billion valuation. The firm is seeking to capitalize on surging demand for AI computing infrastructure from enterprise clients including Microsoft and Anthropic. The IPO will also feature a retail offering for UK investors. Despite rapid expansion and a claimed deal pipeline exceeding $100 billion, Nscale's regulatory filings disclose significant financial risk, revealing a $1 billion net loss on $140.6 million in revenue during the first half of 2026. The listing marks another high-profile tech windfall for Clegg, who previously sold approximately £24 million in Meta stock between 2022 and 2024.