Nscale Raises $1.1bn from Backers

AI data center developer Nscale has raised $1.1 billion to help its build-out in the UK and beyond in a Series B round led by Aker ASA, and participation from the likes of Blue Owl, Dell, Fidelity Management & Research Company, G Squared, Nokia, Nvidia, Point72, and T.Capital.

“AI is reshaping industries, economies, and national strategies – but it cannot happen without the physical backbone: the data centers, the GPUs, and the software to orchestrate them,” said Josh Payne, CEO of Nscale. “We are building a vertically integrated, AI-engineered foundation designed to power the next generation of technological change, enabling industries and innovators across the globe to achieve what today feels impossible."

He added: “We are creating one of the largest global platforms of its kind – purpose-built to meet surging demand and unlock breakthroughs at unprecedented scale. This allows Nscale to provide our customers access to scarce, and highly sought after, compute capacity and rapidly accelerate the build-out of secure, compliant and energy-efficient AI infrastructure. Europe needs a Hyperscaler, and Nscale is rising to the challenge.”