Nscale, theNvidia-backed AI infrastructure startup, has raised $2bnin a Series C funding round, valuing it at $14.6bn, andappointedSheryl Sandberg and Nick Clegg to its board.
The round, which Nscale says is the largest Series C everinEurope, was led by existing investorAker ASA, the Norwegian investment firm,andVC firm 8090 Industries.
AstraCapital, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, NvidiaandPoint72 also participated in the round.
The latest funding round follows theLondon-headquartered startupsecuringa$1.4bn loanto fund the purchase of GPUs earlier this year, andmonths after it secureda$1.1bn Series B.
Nscale, which pitches itself as a “hyperscaler engineered for AI”, is akey local AI infrastructure partner for OpenAI, Microsoft and Nvidia, which have announced significantinvestments into the UK AI ecosystem. The startup develops data centres and provides cloud services.
The startup is providing AI infrastructure for OpenAI’s AI data centre in Norway, called Stargate Norway, and its UK equivalent, Stargate UK.
Nscale,which only emerged from stealth in 2024, said it will use the funds tospeed up the buildout of itsAI infrastructure, including its data centre offering, and expanding inoverseas markets.
Nscale has also appointed former Meta leaders Sheryl SandbergandNick Clegg, the former UK deputy prime minister,andSusan Decker, aformer president of Yahoo, toitsboard.
Josh Payne, CEO and founder of Nscale, said:“This is the fourth industrial revolution; the world is changing at a rapid pace. Over the next 5 years, artificial intelligence will be integrated into every industry, every product, and every job.
“Accelerating drug discovery, extending human life, autonomizing travel and robotics, lifting productivity, and driving massive growth.
“This is leading to the largest infrastructure buildout in human history. Nscale is leading this buildout. We are building this foundation that the market sits on, the engine of superintelligence.”