AI infrastructure startup Nscale raises $2 billion in Series C funding

UK-based AI data centre startup Nscale has secured $2 billion in fresh funding, pushing its valuation to $14.6 billion as global investors accelerate spending on infrastructure needed to support rapidly growing artificial intelligence workloads.

UK-based artificial intelligence infrastructure company Nscale has raised $2 billion in a Series C funding round, valuing the startup at $14.6 billion as demand for AI-focused data centre infrastructure continues to surge globally.

The investment round was led by Aker ASA and 8090 Industries, with participation from several major technology and financial firms including Nvidia, Dell Technologies, Lenovo, Nokia, Citadel and Jane Street.

Founded in 2024, Nscale focuses on building large-scale AI data centres and offering cloud computing services tailored for artificial intelligence workloads. The company said the new capital will help accelerate its plans to develop integrated AI infrastructure across Europe, North America and Asia.

Board strengthened with high-profile tech leaders

Alongside the funding announcement, Nscale revealed that three prominent technology and business leaders have joined its board of directors. These include Sheryl Sandberg, former Chief Operating Officer of Meta; Nick Clegg, former UK deputy prime minister and former executive at Meta; and Susan Decker, former president of Yahoo.

The appointments are expected to strengthen the company’s leadership as it scales operations and prepares for future growth in the rapidly expanding AI infrastructure market.

Nscale’s chief executive and founder Josh Payne said the ongoing boom in artificial intelligence is driving unprecedented demand for computing infrastructure. He noted that the industry is witnessing one of the largest technology infrastructure expansions in history as companies race to deploy advanced AI systems.

Expanding global AI infrastructure

The startup currently operates data centres in the United Kingdom, the United States, Norway, Portugal and Iceland. It has also secured strategic partnerships with major technology companies to expand its presence in the AI ecosystem.

In recent months, Nscale strengthened its collaboration with Microsoft and announced a project with OpenAI to develop an AI-focused data centre facility in Norway.

The latest funding builds on earlier investments, including a $1.1 billion Series B round last year and a $1.4 billion financing arrangement announced earlier this year. The company has also indicated plans to explore a potential initial public offering as it continues to scale its AI infrastructure platform.