London-based firm Nscale, which provides AI-optimized data centers and GPU-powered AI services, has secured $1.1 billion in funding led by Aker ASA to accelerate its growth across Europe, North America, and the Middle East.
- Nscale, founded in 2024 by Josh Payne, develops and operates AI-native, vertically integrated data centers. The company provides high-performance GPU compute, storage, networking, and managed AI services, supporting AI training, fine-tuning, and inference at scale.
- Anchored in Europe, Nscale leverages energy-efficient facilities in Norway and other strategic locations, taking advantage of some of the lowest-cost renewable energy in the world.
- Its platform includes serverless inference endpoints, dedicated training clusters, and pre-configured AI/ML tools through the Nscale Marketplace, enabling enterprises and governments to deploy workloads efficiently, securely, and cost-effectively.
“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," CEO of Nscale, Josh Payne, commented.
Details of the deal
- The investment was led by Aker ASA, with support from existing shareholders such as Sandton Capital, and participation from Blue Owl, Dell Technologies, Fidelity Management & Research Company, G Squared, Nokia, NVIDIA, Point72, and T.Capital.
“Over just a few months, Nscale has moved with focus and velocity – turning ambitious plans into production capacity and becoming meaningfully relevant, fast. We’re excited to support Josh and the Nscale team as they scale with discipline, equip builders with infrastructure, and establish a strategic foundation for national AI leadership,'' claims Larry Aschebrook, Founder and Managing Partner at G Squared.
- Nscale will use the $1.1 billion Series B funding to rapidly expand its AI infrastructure across Europe, North America, and the Middle East, including large-scale “AI factory” data centers like Stargate UK and Stargate Norway.
- The capital will also support the growth of engineering and operations teams, enhance its vertically integrated AI cloud platform, accelerate product innovation across the AI stack, and deliver secure, energy-efficient, and sovereign AI infrastructure to enterprises and governments worldwide.
