Nscale Raises $1.1bn for European Data Centre Expansion
Nscale has completed a US$1.1bn Series B funding round, the largest in UK and European history, to accelerate deployment of AI-focused data centres across multiple continents.
The London-based hyperscaler has secured backing from lead investor Aker ASA, alongside existing shareholders including Sandton Capital and new participants Blue Owl Managed Funds, Dell, Fidelity Management & Research Company, G Squared, Nokia, Nvidia, Point72 and T.Capital.
The oversubscribed round will fund rapid expansion of Nscale’s AI factory data centres, targeting locations with access to low-cost renewable energy sources.
Nscale data centres target renewable energy advantage
AI-native infrastructure platform Nscale delivers vertically integrated compute, networking, storage, managed software and AI services through company-owned and colocated facilities. The company positions its data centres in regions with access to some of the world’s lowest-cost renewable energy, passing cost savings directly to customers while meeting regulatory requirements.
“We are building the AI-native Infrastructure platform of tomorrow,” says Josh Payne, CEO of Nscale. “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.”
The company operates facilities ranging from large-scale hubs to smaller metro clusters designed for latency-sensitive workloads. Nscale’s leadership team has delivered over 50 data centres and developed supercomputing platforms across multiple markets.
“We are creating one of the largest global platforms of its kind – purpose-built to meet surging demand and unlock breakthroughs at unprecedented scale,” Josh explains. “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.”
Norwegian facilities anchor European expansion
The Norwegian market forms a cornerstone of Nscale’s European strategy. In July, the company launched Stargate Norway through a partnership with Aker ASA and OpenAI, targeting delivery of 100,000 Nvidia GPUs by the end of 2026. The Nscale-Aker joint venture subsequently secured a multi-billion-dollar agreement with Microsoft to deliver AI infrastructure in Narvik, Norway.
Norway’s renewable energy resources make it particularly attractive for large-scale AI data centre operations. “AI is reshaping the global economy and redefining the value of renewable energy,” says Øyvind Eriksen, President & CEO of Aker ASA. “With Nscale, we're backing infrastructure that’s sovereign, scalable and purpose-built to accelerate this transformation. Nscale’s full-stack, GPU-first model gives it a real edge in execution.”
The Norwegian facilities will serve as a model for similar developments across Europe and other regions. Øyvind adds: “The scale and quality of this Series B round are a testament to Nscale’s vision and momentum – and to the strength of our collaboration. Through both our Series B investment and joint venture, we’re making a significant, long-term commitment to building industrial relevance in the age of AI.”
UK AI Campus anchors sovereign infrastructure strategy
Nscale’s UK operations centre on its AI Campus in Loughton, where the company plans to develop the UK’s largest AI supercomputer in partnership with Microsoft. A separate collaboration with OpenAI and Nvidia established Stargate UK, focusing on sovereign workloads for government and enterprise customers.
“The success of UK-founded companies like Nscale shows how our country can be at the cutting edge of AI,” says Kanishka Narayan, UK AI Minister. “By attracting global expertise and investment, it is building the essential infrastructure for the UK to compete internationally, drive growth and create jobs across the country.”
Technology partnerships enhance data centre capabilities
The funding round includes strategic investments from key technology suppliers. Nokia's participation brings IP and optical networking expertise to support Nscale's infrastructure platform. “Demand for the build-out of secure, scalable AI infrastructure in Europe and across the world continues to accelerate,” says Justin Hotard, President and CEO of Nokia. “Nokia is participating in Nscale's investment round and announcing a partnership with Nscale to combine our expertise in IP and optical networking with their leading infrastructure platform, enabling the innovation needed for the future of AI infrastructure.”
Dell Technologies has expanded its relationship with Nscale, providing AI infrastructure hardware to support sovereign AI initiatives across Europe. The partnership addresses growing demand for locally-controlled AI capabilities. “The future of AI hinges on empowering every nation to innovate securely, independently and on its own terms,” says Adrian McDonald, President, EMEA at Dell Technologies. “We help transform sovereign ambition into global impact by delivering the foundational infrastructure and services needed to realise this vision. Through Dell’s strategic investment and the power of our AI solutions, Nscale is building tailored platforms that drive meaningful progress for citizens and industries worldwide.”
The funding will accelerate expansion of Nscale's engineering and operations teams while strengthening delivery capabilities for enterprise and government customers across multiple regions. “Over just a few months, Nscale has moved with focus and velocity – turning ambitious plans into production capacity and becoming meaningfully relevant, fast,” says Larry Aschebrook, Founder & Managing Partner at G Squared. “The team is building massive-scale, sovereign infrastructure that enterprises and nations can actually consume – reliable, efficient and close to their data. 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.”
“Over just a few months, Nscale has moved with focus and velocity – turning ambitious plans into production capacity and becoming meaningfully relevant, fast,” adds Larry Aschebrook, Founder & Managing Partner at G Squared. “The team is building massive-scale, sovereign infrastructure that enterprises and nations can actually consume – reliable, efficient, and close to their data.
“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.”
