Nscale raises $2 billion Series C funding, adds Sheryl Sandberg and Nick Clegg to board
8 Sources
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Nscale Raises $2 Billion and Adds Sandberg, Clegg to Board
Nscale, a UK developer for artificial intelligence data centers, has raised $2 billion in funding and added a trio of high-profile business leaders as directors, including former Meta Platforms Inc. executives Sheryl Sandberg and Nick Clegg. Norwegian energy firm Aker ASA and investment firm 8090
[2]
Nvidia backs AI data center startup Nscale as it hits $14.6 billion valuation
AI data center startup Nscale has raised $2 billion at a $14.6 billion valuation, the company announced on Monday, as the AI infrastructure boom continues. The Series C featured Nvidia and was led by Aker ASA and 8090 Industries. It also featured Astra Capital Management, Citadel, Dell, Jane
[3]
Nscale raises $2bn Series C at $14.6bn valuation
The UK hyperscaler has now raised over $4.5bn across equity rounds in less than six months, and says it is the largest Series C ever closed in Europe. That claim deserves scrutiny. When Josh Payne founded Nscale, the company was barely a year old, and the world's appetite for GPU compute had not
[4]
British AI datacentre firm Nscale raises $2bn as Sheryl Sandberg and Nick Clegg join board
London-based startup, which is vital to the government's artificial intelligence ambitions, is now valued at $14.6bn Nscale, a UK company vital to the government's AI ambitions, has raised $2bn (£1.5bn) in a funding round and appointed former Meta executives Sheryl Sandberg and Nick Clegg to its
[5]
AI cloud startup Nscale raises $2B in funding at $14.6B valuation - SiliconANGLE
Nscale Global Holdings Ltd., a London-based data center startup, today announced that it has raised $2 billion in funding. The Series C round was jointly led by Norwegian energy company Aker ASA and 8090 Industries. They were joined by Nvidia Corp., Dell Technologies Inc., Nokia Corp. and several
[6]
European record $2bn Series C round for Nscale
The AI-native infrastructure platform provider has also appointed Sheryl Sandberg, Nick Clegg and Susan Decker to its board of directors. UK-based AI infrastructure 'hyperscaler' Nscale is now valued at $14.6bn after raising $2bn in Series C funding. The funding round was led by Aker ASA and 8090
[7]
NVIDIA Joins Nscale's $2B Round as AI Data Centre Demand Grows
Nscale has raised $2 billion in a Series C round, valuing the UK-based AI infrastructure company at $14.6 billion. The company said the funding will support expansion across Europe, North America, and Asia. Rising demand for AI computing capacity continues to attract large investors to the
[8]
Nvidia-backed Nscale valued at $14.6 billion in fresh funding round
March 9 (Reuters) - Nvidia-backed artificial intelligence group Nscale was valued at $14.6 billion after raising $2 billion in its latest funding round, the British company said on Monday. The Series C funding round was led by Norway's Aker and 8090 Industries, and included Nvidia, Citadel, Dell,
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UK-based AI data center startup Nscale has raised $2 billion in Series C funding at a $14.6 billion valuation, more than doubling its worth from last September. The round was led by Aker ASA and 8090 Industries, with participation from Nvidia, Dell, Lenovo, and Nokia. Former Meta executives Sheryl Sandberg and Nick Clegg join the board alongside Susan Decker, bringing high-profile expertise as Nscale races to build GPU-dense infrastructure across Europe, North America, and Asia.
Nscale Secures $2 Billion Funding at $14.6 Billion Valuation
Nscale, a UK developer of AI data centers, has closed a $2 billion funding round that values the startup at $14.6 billion, more than doubling its valuation from September 2025
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. The Series C funding was jointly led by Norwegian energy firm Aker ASA and investment firm 8090 Industries, with participation from major technology companies including Nvidia, Dell, Lenovo, and Nokia2
. Additional investors in the round include Astra Capital Management, Citadel, Jane Street, Linden Advisors, and Point72, with Goldman Sachs and J.P. Morgan acting as joint placement agents3
.The company claims this is the largest Series C ever completed in Europe, having now raised over $4.5 billion across equity rounds in less than six months
3
. Spun out of a cryptocurrency mining operation in early 2024, Nscale has quickly become one of the most prominent data center newcomers capitalizing on the AI boom1
. The fresh funds will accelerate development of vertically integrated AI infrastructure, spanning GPU compute, networking, data services, and orchestration software across multiple continents2
.
Source: Analytics Insight
High-Profile Board of Directors Appointments Signal Strategic Ambitions
Alongside the funding announcement, Nscale revealed three significant board of directors appointments. Sheryl Sandberg, the longtime chief operating officer at Facebook and its parent Meta Platforms Inc., brings operational credibility from scaling a company to hundreds of billions in revenue
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. Nick Clegg, a former British politician who ran Meta's policy operation before leaving in 2025, joins with deep expertise at the intersection of technology, policy, and AI governance4
. Susan Decker, a former Yahoo executive who serves on multiple boards including Berkshire Hathaway, adds financial acumen and corporate governance experience3
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Source: Silicon Republic
These appointments matter because they signal Nscale's ambitions beyond pure infrastructure buildout. Clegg's regulatory fluency could prove valuable as Nscale pursues sovereign AI mandates and government contracts across the UK and EU
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. The London-based startup is vital to the UK government's AI ambitions, contributing to Stargate UK and building a supercomputer in Loughton set to come online later this year4
.Nvidia Investment Underscores AI Infrastructure Race
The Nvidia investment in this round carries particular significance, echoing CEO Jensen Huang's past comments about the AI boom leading to "the largest infrastructure buildout in human history"
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. Nscale CEO and founder Josh Payne stated the company is "building this foundation that the market sits on, the engine of superintelligence"2
. The hyperscaler has positioned itself as one of several neo-cloud operators who rent out computing resources to companies developing AI, distinguishing itself as a provider tailor-made for Europe1
.Nscale's data centers are designed from first principles to handle GPU-dense workloads rather than retrofitting facilities built for traditional cloud computing
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. The company has signed a $1.4 billion delayed-draw term loan backed by GPUs and secured large-scale contracts with Microsoft, including plans for a facility in Texas targeting 104,000 Nvidia GB300 GPUs3
. A $14.6 billion partnership with Microsoft will see it host 200,000 of Nvidia's GB300 accelerators across Texas, the UK, and Portugal5
.Related Stories
Stargate Norway Integration and Global Expansion Plans
Nscale has resolved a structural question by winding the Aker-Nscale joint venture into Nscale as a wholly owned entity
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. Aker remains a leading shareholder, with CEO Øyvind Eriksen continuing to sit on the board3
. Stargate Norway, announced in July 2025 alongside Aker and OpenAI, targets 100,000 Nvidia GPUs by the end of 2026 and will provide 230 megawatts of initial computing capacity5
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Source: SiliconANGLE
The company's data center footprint spans Norway, the UK, Portugal, Iceland, and the US, with facilities featuring advanced cooling systems
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. Nscale plans to use the proceeds to extend its cloud to Asia, where it does not yet operate data centers, while expanding its existing presence in North America and Europe5
. However, questions remain about whether the infrastructure will be ready before the market shifts, as most announced facilities are not yet operational and some appear to be acquired rather than built from scratch4
.References
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