Nscale Lands Record $2B for AI
European AI infrastructure company Nscale just raised a record-breaking $2 billion Series C, the largest in European history. The funding catapults the company's valuation to $14.6 billion, signaling massive investor confidence in the foundational tech powering the AI boom.
The funding round was led by Norwegian industrial group Aker ASA and New York's 8090 Industries, with participation from major tech and finance players including NVIDIA, Dell, Lenovo, Citadel, Jane Street, and Point72. This diverse backing signals confidence from both the builders of AI hardware and the quantitative firms that heavily rely on computational power. As an AI infrastructure "hyperscaler," Nscale provides the full stack of required technology, from designing and operating its own data centers to providing the GPU compute, networking, and orchestration software needed to run massive AI models. The company aims to solve the core bottleneck in the AI industry, which has shifted from model development to the sheer availability of reliable, large-scale computing capacity. The London-based company, founded in 2023, has seen a meteoric rise. This latest funding follows a $1.1 billion Series B in November 2025 and a separate $1.4 billion debt facility raised in February 2026 specifically to purchase more GPUs. Underscoring its strategic ambitions in technology and policy, Nscale has added three high-profile names to its board of directors: former Meta COO Sheryl Sandberg, former Yahoo President Susan Decker, and Nick Clegg, the former UK Deputy Prime Minister and ex-President of Global Affairs at Meta. Operationally, Nscale is consolidating its joint venture with lead investor Aker, a move intended to streamline governance and speed up the execution of its projects in Norway. The company's flagship AI data center is located in Glomfjord, Norway, and is powered entirely by renewable energy.
