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

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