Nscale, the UK-based hyperscaler engineered for AI, has closed the largest Series B financing in UK and European history, raising USD $1.1 billion. The round was led by Aker ASA, with continued support from existing shareholders including Sandton Capital, alongside participation from Blue Owl Managed Funds, Dell, Fidelity Management & Research Company, G Squared, Nokia, NVIDIA, Point72, and T.Capital.
As an AI-native infrastructure platform, Nscale provides end-to-end compute, networking, storage, managed software, and AI services through its globally operated and Nscale-owned data centres. The company is strategically positioned to meet the rising enterprise demand for GPUs, which power AI workloads across industries. Its European data centres leverage some of the lowest-cost renewable energy in the world, enabling Nscale to deliver cost-efficient solutions while adhering to stringent regulatory standards. From large-scale hubs in Norway to smaller metro clusters designed for latency-sensitive workloads, its next-generation facilities can be deployed faster and more cost-effectively than typical industry benchmarks.
The Series B funding will fuel Nscale’s expansion of AI infrastructure across Europe, North America, and the Middle East, supporting rapid deployment of “AI factory” data centres such as Stargate UK and Stargate Norway. It will also bolster the company’s vertically integrated AI cloud platform, enhance engineering and operations teams, and improve delivery capabilities for enterprise and government clients globally.
“We are building the AI-native Infrastructure platform of tomorrow,” said Josh Payne, CEO of Nscale. “AI is reshaping industries, economies, and national strategies – but it cannot happen without the physical backbone: the data centres, the GPUs and the software to orchestrate them. We are building a vertically integrated, AI-engineered foundation designed to power the next generation of technological change, enabling industries and innovators across the globe to achieve what today feels impossible. We are creating one of the largest global platforms of its kind – purpose-built to meet surging demand and unlock breakthroughs at unprecedented scale. This allows Nscale to provide our customers access to scarce, and highly sought after, compute capacity and rapidly accelerate the build-out of secure, compliant and energy-efficient AI infrastructure. Europe needs a Hyperscaler, and Nscale is rising to the challenge.”
Backed by an experienced leadership team with a proven track record in building data centres, supercomputing platforms, and multi-billion-dollar infrastructure businesses, Nscale combines one of the world’s largest GPU pipelines with the expertise to deliver globally. Alongside its physical infrastructure, the company is accelerating product innovation across the AI stack, including fine-tuning services, advanced inference APIs, an AI Studio, orchestration tools, and private cloud enhancements.
This latest funding follows Nscale’s commitment to UK AI infrastructure. In partnership with Microsoft, it plans to develop the UK’s largest AI supercomputer at Nscale’s AI Campus in Loughton. Additionally, Nscale, OpenAI, and NVIDIA are jointly establishing Stargate UK, a sovereign-focused infrastructure platform for deploying OpenAI technologies in the UK.
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In July, Nscale launched Stargate Norway with Aker ASA and OpenAI, aiming to deploy 100,000 NVIDIA GPUs by 2026. The Nscale-Aker joint venture recently expanded through a multi-billion-dollar agreement with Microsoft for AI infrastructure in Narvik, Norway. The company is also growing its partnership with Dell Technologies to support sovereign AI initiatives in Europe.
“AI is reshaping the global economy and redefining the value of renewable energy. With Nscale, we’re backing infrastructure that’s sovereign, scalable and purpose-built to accelerate this transformation. Nscale’s full-stack, GPU-first model gives it a real edge in execution. The scale and quality of this Series B round are a testament to Nscale’s vision and momentum – and to the strength of our collaboration. Through both our Series B investment and joint venture, we’re making a significant, long-term commitment to building industrial relevance in the age of AI,” said Øyvind Eriksen, President & CEO, Aker ASA.
“Over just a few months, Nscale has moved with focus and velocity – turning ambitious plans into production capacity and becoming meaningfully relevant, fast. The team is building massive-scale, sovereign infrastructure that enterprises and nations can actually consume – reliable, efficient, and close to their data. We’re excited to support Josh and the Nscale team as they scale with discipline, equip builders with infrastructure, and establish a strategic foundation for national AI leadership,” added Larry Aschebrook, Founder & Managing Partner, G Squared.
“Demand for the build-out of secure, scalable AI infrastructure in Europe and across the world continues to accelerate. Nokia is participating in Nscale’s investment round and announcing a partnership with Nscale to combine our expertise in IP and optical networking with their leading infrastructure platform, enabling the innovation needed for the future of AI infrastructure,” said Justin Hotard, President and CEO, Nokia.
“The future of AI hinges on empowering every nation to innovate securely, independently and on its own terms. We help transform sovereign ambition into global impact by delivering the foundational infrastructure and services needed to realize this vision. Through Dell’s strategic investment and the power of our AI solutions, Nscale is building tailored platforms that drive meaningful progress for citizens and industries worldwide,” said Adrian McDonald, President, EMEA, Dell Technologies.
“The success of UK-founded companies like Nscale shows how our country can be at the cutting edge of AI. By attracting global expertise and investment, it is building the essential infrastructure for the UK to compete internationally, drive growth, and create jobs across the country,” commented UK AI Minister, Kanishka Narayan.
