AI infrastructure firm Nscale bags record-breaking $2 billion Series C investment

UK-based Nscale has raised $2 billion in funding as the AI infrastructure firm targets continued global expansion.

The Series C round, led by Aker ASA and 8090 Industries, saw investment from a host of big-name technology companies including Nvidia, Nokia, Dell and Lenovo.

This latest investment comes hot on the heels of a $1.1 billion funding round in September 2025, and now values the company at $14.6 billion.

In a statement, Nscale said the funding will enable it to expand its infrastructure footprint, bolster engineering and operations teams, and help it “deliver real, production-grade AI deployments at massive scale”.

“This is the fourth industrial revolution; the world is changing at a rapid pace. Over the next 5 years, Artificial Intelligence will be integrated into every industry, every product, and every job,” said Nscale CEO and founder Josh Payne.

“Nscale is leading this buildout. We are building this foundation that the market sits on, the engine of superintelligence.”

Technology secretary Liz Kendall said the investment, which is the largest in European history, is a major seal of approval for the UK’s technology sector.

“The AI revolution is already fuelling breakthroughs from health to clean energy that can help us build a wealthier and fairer Britain,” she said.

“The success of UK-based Nscale shows how firms are seizing this opportunity to invest, expand and create jobs in this country. We have Europe's leading AI ecosystem, and this news further underlines the growing international confidence in the UK as the natural home of AI innovation."

Alongside the investment, Nscale announced three new directors will join the company board.

Sheryl Sandberg, former chief operating officer (COO) of Meta and co-founder of Sandberg Bernthal Venture Partners, will join Nick Clegg, former Liberal Democrat leader and president for global affairs at Meta alongside Susan Decker, CEO and co-founder of Raftr.

Nscale’s rise to prominence

London-based Nscale was founded in 2024 and is among a host of new “neocloud” providers which offer infrastructure services aimed at supporting AI training and inference.

The company helps bolster GPU compute capabilities for organizations dabbling with the technology, as well as networking and data orchestration software services.

Nscale is set to play a key role in the UK’s AI infrastructure build-out plans over the next five years following the launch of the government’s AI Opportunities Action Plan.

In January 2025, the firm announced it will invest £2 billion into the UK data center industry by 2028. At the time, Nscale said the investment will support development of a series of fixed and modular data centers across the country.

Nscale boasts close ties with major industry players, such as Nvidia, OpenAI, and Microsoft. Last year, for example, the company announced plans to build out UK AI infrastructure using 10,000 Nvidia Blackwell GPUs.

July 2025 also saw the company sign a partnership with OpenAI to build Europe’s first “AI Gigafactory” in Norway.

This deal, which includes close collaboration with Norwegian engineering firm Aker, formed part of Stargate Norway; the first international project launched through the OpenAI for Countries infrastructure program.

Following the Series C round, Nscale confirmed it has reached an agreement with Aker to roll the venture fully into Nscale.

This step strengthens execution by putting delivery and governance under one roof, while keeping continuity for the people and projects already underway," said Øyvind Eriksen, President and CEO of Aker ASA.

“We have full confidence in Nscale’s ability to deliver responsibly in Norway over the long term, and we believe this positions the work for faster progress and durable value creation.”

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