Nvidia joins $2bn funding round for AI data centre start-up
Nvidia has invested in Nscale, a UK-based AI data centre start-up, as part of a Series C funding round of $2 billion (€1.7 billion), valuing the company at $14.6 billion (€12.6 billion).
Nscale focuses on building the critical infrastructure needed for the development of artificial intelligence. This includes building data centres and providing cloud access to powerful computing resources. Participating in the funding round, led by Aker ASA and 8090 Industries, were prominent investors such as Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia and Point72.
To further strengthen its leadership position, Nscale announced the addition of three new directors to its board of directors: Sheryl Sandberg, former COO of Meta; Nick Clegg, former Deputy Prime Minister of the UK and director at Meta; and Susan Decker, former chief executive of Yahoo.
Nscale, founded in 2024, has quickly become a major player in AI infrastructure. The start-up has managed to raise significant funding over the past year, reflecting growing investor interest in this sector.
This latest funding will accelerate the development of Nscale’s vertically integrated AI infrastructure, covering everything from GPU computing and networking to data services and orchestration software. The company plans to expand its operations into Europe, North America and Asia.
“This is the fourth industrial revolution; the world is changing at a rapid pace. Over the next five 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,” said Josh Payne, CEO and founder of Nscale. “Nscale is leading this buildout. We are building this foundation that the market sits on, the engine of superintelligence.”
The start-up has already set up data centres in the UK, the US, Norway, Portugal and Iceland. It has formed partnerships with major technology companies, including an extensive $14 billion (€12 billion) partnership with Microsoft and a joint venture with OpenAI to launch a Stargate-branded AI data centre in Norway. Nscale also confirmed its plans for an IPO in the future to CNBC.
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