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March 9, 2026 - Deals
Nscale Secures $2 Billion In Series C Funding Led By Aker ASA And 8090 Industries
Nscale, a UK-based developer of data centers for artificial intelligence, announced it has raised $2 billion in a Series C round at a $14.6 billion valuation, which the company described as the largest funding round of its kind in European history. The raise included backing from Nvidia as well as Dell, Lenovo, Nokia, Citadel, and Point72, and was led by Norwegian energy firm Aker ASA and investment firm 8090 Industries. Founded in 2024 as a spinoff from crypto mining firm Arkon Energy, the company has rapidly expanded in the “neocloud” sector that rents access to specialized AI chips. CEO and founder Josh Payne said the AI boom is driving a massive global infrastructure buildout and positioned Nscale as a key player in supplying that computing backbone. Alongside the funding announcement, Nscale added Sheryl Sandberg, Susan Decker, and former UK Deputy Prime Minister Nick Clegg to its board as it continues expanding its data center footprint and prepares for a potential IPO later in 2026.
FOUNDERS: Josh Payne, Nathan Townsend & Donald Morrison
INVESTORS: Aker ASA, 8090 Industries, Nvidia, Dell, Lenovo, Nokia, Citadel & Point72
ROUND: Series C
AMOUNT: $2,000,000,000
VALUATION: $14,600,000,000
HQ: United Kingdom
#VentureCapital #Nscale #JoshPayne #NathanTownsend #DonaldMorrison #TradedVC
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Archive Secures Strategic Funding Round Led By Anti Fund And Florida FundersArchive has closed a strategic funding round led by Anti Fund and Florida Funders, with backing from angels at OpenAI and Perplexity and more than 50 founders and executives, alongside existing investors including Battery Ventures, Stripe, Tiger Global, Lux Capital and Human Capital. Founded in 2021, Archive uses AI to power social listening and end-to-end creator marketing programs, now serving more than 1,000 brands including DoorDash, Pinterest and L’Oréal.
FOUNDER: Paul Benigeri
HQ: New York, New York
#VentureCapital #Archive #PaulBenigeri #TradedVC
Palo Alto Networks Acquires AI Startup Console For $500 MillionConsole, a San Francisco-based AI startup, has been acquired by Palo Alto Networks for a reported $500 million, just two years after its founding. The company had raised $29 million across two funding rounds and was valued at $157 million in its latest round. Palo Alto Networks CEO Nikesh Arora was among Console’s early investors, while Thrive Capital, led by Joshua Kushner, led both of the startup’s funding rounds. Palo Alto plans to integrate Console’s AI agent technology into its Cortex security platform.
ACQUISITION: $500,000,000
HQ: San Francisco, CA
#VentureCapital #Console #NikeshArora #TradedVC