Nscale raises $1.1B amid AI data center boom
UK-based startup Nscale, specializing in infrastructure for artificial intelligence, has raised $1.1 billion in funding just a week after announcing partnerships with Nvidia and OpenAI.
The round was led by Norwegian corporation Aker ASA, which invested $285 million in cash and land for a data center in Norway. Other investors included Point72, Nvidia, Nokia, Blue Owl Capital, Dell Technologies, and Fidelity. Following the deal, Nscale was valued at around $3.1 billion.
Founded in 2024 as a spin-off from a crypto mining business, Nscale is part of the so-called neocloud companies that rent access to high-end AI chips. Its main competitors are CoreWeave and Nebius.
Nscale now plays a key role in the UK’s plans to develop national AI infrastructure. It was chosen by OpenAI to build the country’s first Stargate campus and is working with Microsoft to create the UK’s largest AI supercomputer in Loughton, Essex.
See also: OpenAI: scandals and secrets
According to DC Byte, the funds raised will only cover the purchase of 23,040 GB300 GPUs for the Loughton campus. To deploy all planned capacity by 2027, the company will need at least another £500 million ($673 million) for energy and cooling systems.
Just a week earlier, Microsoft signed a $6.2 billion contract to lease capacity from Nscale and Aker in Norway. This underscores the startup’s strategic importance for industry giantsand cements its position as one of the central players in the race for AI infrastructure. However, the company’s ambitious plans will require continued capital inflows.
Nscale now plays a key role in the UK’s plans to develop national AI infrastructure. It was chosen by OpenAI to build the country’s first Stargate campus and is working with Microsoft to create the UK’s largest AI supercomputer in Loughton, Essex.
See also: OpenAI: scandals and secrets
According to DC Byte, the funds raised will only cover the purchase of 23,040 GB300 GPUs for the Loughton campus. To deploy all planned capacity by 2027, the company will need at least another £500 million ($673 million) for energy and cooling systems.
Just a week earlier, Microsoft signed a $6.2 billion contract to lease capacity from Nscale and Aker in Norway. This underscores the startup’s strategic importance for industry giantsand cements its position as one of the central players in the race for AI infrastructure. However, the company’s ambitious plans will require continued capital inflows.
