Nscale has raised $2 billion in Series C funding, as the UK-based AI infrastructure company looks to ramp up deployments across Europe, North America and Asia.
The round was led by Aker ASA and 8090 Industries, and values the business at $14.6 billion. Other backers include Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, NVIDIA, and Point72.
The funding is expected to help the company expand its AI infrastructure platform, covering GPU compute, networking, data services and orchestration software, while also growing its engineering and operations teams.
It’s a sizable funding raise, and while some have questioned whether the AI bubble was starting to slow down, especially with NVIDIA pairing back its initially announced investment in OpenAI, it proves that there’s still significant money on the table for AI infrastructure.
Josh Payne, CEO and Founder of Nscale, noted, “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.”
Alongside the funding, Nscale has also appointed Sheryl Sandberg, Susan Decker, and Nick Clegg to its Board of Directors.
The standout names are Sandberg and Clegg, both former Meta bigwigs. Sandberg previously served as Chief Operating Officer at Meta, while Clegg was President of Global Affairs, and the former Deputy Prime Minister of the UK. Susan Decker, meanwhile, is the CEO and co-founder of Raftr and former President of Yahoo.
Nscale has also agreed to roll out the Aker Nscale joint venture, first announced in July 2025, fully into Nscale. Aker will remain a major shareholder, with CEO Øyvind Eriksen staying on the board. The move is designed to simplify governance and delivery, while keeping existing Norwegian projects on track under the Nscale business.
Øyvind Eriksen, President and CEO of Aker ASA commented, “This step strengthens execution by putting delivery and governance under one roof, while keeping continuity for the people and projects already underway. We have full confidence in Nscale’s ability to deliver responsibly in Norway over the long term, and we believe this positions the work for faster progress and durable value creation.”
