Nscale, the hyperscaler engineered for AI, announced it has raised the largest Series B in UK and European history, at $1.1 billion.
The financing was led by Aker ASA, with continued support from existing shareholders, including Sandton Capital, and participation from Blue Owl Managed Funds, Dell, Fidelity Management & Research Company, G Squared, Nokia, Nvidia, Point72 and T.Capital.
Headquartered in the UK and operating globally, Nscale is an AI-native infrastructure platform, providing vertically integrated compute, networking, storage, managed software and AI services delivered in Nscale-owned and colocated data centres.
It directly addresses the surging enterprise demand for GPUs – the engines driving AI in one of the fastest-growing infrastructure markets.
“Anchored in Europe, its strategically located data centres harness some of the lowest-cost renewable energy in the world, allowing Nscale to pass these significant savings directly to customers while meeting stringent regulatory requirements,” said Nscale.
“From large-scale hubs in Norway to smaller metro clusters designed for latency-sensitive workloads, its next-generation facilities can be delivered more quickly and at a lower cost than the industry benchmarks.
“The new funding will be used to further Nscale’s deployment of large-scale AI infrastructure across Europe, North America and the Middle East, enabling the rapid rollout of the company’s ‘AI factory’ data centres for projects like Stargate UK and Stargate Norway, and the expansion of its vertically integrated AI cloud platform.
“This capital will accelerate the expansion of its engineering and operations teams, and strengthen delivery for enterprise and government customers worldwide.”
Nscale CEO Josh Payne said: “We are building the AI-native Infrastructure platform of tomorrow. AI is reshaping industries, economies, and national strategies – but it cannot happen without the physical backbone: the data centres, the GPUs and the software to orchestrate them.
“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.
“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.”
Goldman Sachs & Co. LLC acted as exclusive placement agent for Nscale in connection with this capital raise.