Series C values the startup at $14.6 billion
AI data center startup Nscale said Monday it raised $2 billion in a Series C round that values the company at $14.6 billion, extending a fundraising streak that underscores how aggressively investors are financing compute capacity for artificial intelligence.
The round was led by Aker ASA and 8090 Industries and included participation from Nvidia. Additional investors named by the company included Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia and Point72.
Board additions bring Big Tech and finance veterans
Nscale also announced three new board directors: former Meta COO Sheryl Sandberg, former UK deputy prime minister and Meta executive Nick Clegg, and former Yahoo president Susan Decker. The appointments come as the company scales its footprint and positions itself as an infrastructure provider to large AI customers.
Founded in 2024, the UK-based company develops data centers and operates cloud computing services. It currently runs data centers in the U.K., the U.S., Norway, Portugal and Iceland, according to its statement.
Capital to expand integrated AI infrastructure
Nscale said the new funding will support expansion of what it described as vertically integrated AI infrastructure across Europe, North America and Asia, spanning GPU compute, networking, data services and orchestration software. CEO Josh Payne said the AI boom is driving an unprecedented buildout of infrastructure and framed Nscale as a foundational supplier for that demand.
The company said the Series C proceeds include a $433 million pre-Series C SAFE round completed in October.
Prior financing and partnerships in focus
Nscale has raised multiple large financings over the past year. It previously announced a $1.4 billion delayed draw term loan in February and a $1.1 billion Series B in September, without disclosing the valuation tied to that round.
The company has also highlighted partnerships with major AI and cloud players. Nscale said it expanded a partnership with Microsoft in October, and it has partnered with OpenAI on a Stargate-branded AI data center in Norway. Nscale has also confirmed it is exploring an initial public offering, following earlier comments to CNBC.
