Nscale, a British AI infrastructure company backed by Nvidia, has reached a $14.6 billion valuation following a $2 billion Series C funding round. This milestone positions Nscale among Europe’s fastest-growing tech giants, alongside companies like Helsing and Mistral AI, as demand for large-scale AI computing rapidly increases.
Vertical Integration Drives Growth
Nscale distinguishes itself through full-stack control : from securing energy sources and building data centers to developing the necessary compute power and software orchestration. The company’s latest valuation, bolstered by a previous $433 million pre-Series C investment from major players like Blue Owl, Dell, Nvidia, and Nokia, reflects this comprehensive approach.
IPO Plans and High-Profile Board Additions
CEO Josh Payne has indicated a potential public offering as early as this year to further expand capital. Supporting this ambition, Nscale has secured backing from Goldman Sachs and JPMorgan, signaling clear preparations for an IPO. The company is also bringing in heavy hitters to its board: Sheryl Sandberg (former Meta COO), Susan Decker (former Yahoo president), and Nick Clegg (former UK deputy prime minister). Their expertise is expected to accelerate the company’s strategic execution and credibility.
“Stargate Norway” Project: A Massive GPU Deployment
A key component of Nscale’s strategy is “Stargate Norway,” a joint venture with Norwegian energy firm Aker. This project aims to deploy 100,000 Nvidia GPUs by 2026, with OpenAI already confirmed as an initial customer. The consolidation of management under Nscale’s direct control ensures streamlined execution and governance.
Expanding Global Footprint
Nscale has also recently expanded its partnership with Microsoft to build data centers hosting approximately 200,000 Nvidia GPUs across Europe and the U.S. The Series C round included participation from Dell, Astra Capital, Citadel, Jane Street, Lenovo, Linden Advisors, Nokia, and Point72. The funding will accelerate expansion across Europe, North America, and Asia, while strengthening engineering teams and platform development.
The rapid growth of Nscale demonstrates the critical need for specialized AI infrastructure as companies race to deploy large language models and other computationally intensive applications. The company’s vertical integration model, strategic partnerships, and aggressive expansion plans position it as a major player in the global AI landscape.
