London-based AI infrastructure provider Nscale has secured $1.1B (~€936M) in a Series B round — the largest in UK and European history.
The funding was led by Aker ASA, with participation from NVIDIA, Dell, Fidelity, Blue Owl, Sandton Capital, Point72, Nokia, G Squared, T.Capital, and others.
Building sovereign AI infrastructure
Nscale develops vertically integrated, GPU-first AI infrastructure, combining compute, networking, storage, and managed AI services in its own and colocated data centres. Its systems are designed for high-security, energy-efficient AI workloads across industries and governments.
“This is about building the physical backbone of AI: data centres, GPUs, and orchestration software,” said Josh Payne, CEO of Nscale. “We’re building a platform that can power the next generation of innovation — from sovereign AI to hyperscale applications.”
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Where the capital goes
- Rollout of AI “factory” data centres in Europe, North America, and the Middle East
- Expansion of Stargate UK and Stargate Norway projects (with OpenAI, Microsoft, and Aker)
- Hiring engineers and operations staff to serve enterprise and government customers
- Scaling Nscale’s AI cloud platform for training, fine-tuning, and running large models
The company aims to provide 100,000 NVIDIA GPUs by 2026 and strengthen Europe’s position in the global AI race.
Strategic momentum
- Earlier this month, Nscale announced the UK’s largest AI supercomputer on its Loughton AI Campus in partnership with Microsoft.
- Stargate Norway, launched with OpenAI and Aker, is Europe’s first hyperscale AI project.
- The UK government welcomed the raise, with AI Minister Kanishka Narayan calling it proof of the UK’s global AI competitiveness.
Investor perspective
“AI is reshaping the global economy, and Nscale provides sovereign, scalable infrastructure built for this transformation,” said Øyvind Eriksen, CEO of Aker ASA. “The scale of this Series B reflects the strength of their vision and execution.”
