Nscale, an AI infrastructure company, has secured $790 million in financing to accelerate the expansion of its AI data centre campus in Narvik, northern Norway.
The financing was provided by ABN AMRO, DNB, Eksfin, Nordea, and SEB, and includes an additional $790 million accordion facility that could support a further 115MW expansion of the site. The project is currently considered the largest AI infrastructure investment in Norway and forms part of Nscale’s broader strategy to scale high-performance compute capacity for enterprise and AI-native customers.
What The Company Does
Nscale develops and operates vertically integrated AI infrastructure spanning energy systems, data centres, GPU compute resources, and software platforms. The company focuses on providing large-scale computational infrastructure designed to support advanced artificial intelligence workloads across cloud and edge environments.
Its Narvik campus is being developed as a high-capacity AI compute hub capable of supporting growing demand for generative AI training, inference, and enterprise-scale machine learning operations.
The company’s infrastructure strategy combines access to energy resources, high-density data centre capacity, and GPU deployment, allowing it to offer integrated AI compute environments to governments, enterprises, and AI-focused technology companies.
Nscale is also backed by NVIDIA, reflecting the increasing alignment between infrastructure operators and major GPU providers as global AI demand accelerates.
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Market Context / Industry Background
Global demand for AI compute infrastructure has expanded rapidly following the widespread adoption of generative AI systems and large language models. This has intensified competition for data centre capacity, GPU availability, and energy-efficient infrastructure capable of supporting large-scale AI workloads.
Northern European regions such as Norway are becoming increasingly attractive for hyperscale AI infrastructure projects due to access to renewable energy, lower cooling costs, and stable industrial power grids. These factors are particularly important as AI data centres become significantly more energy-intensive than traditional cloud infrastructure.
At the same time, governments and private investors across Europe are increasing investment into sovereign AI infrastructure to reduce reliance on non-European compute ecosystems and strengthen regional technological capacity.
Nscale’s Narvik project also reflects a broader trend toward specialised AI-first infrastructure campuses rather than general-purpose cloud facilities. The site has previously been linked to OpenAI’s proposed Stargate Norway initiative, underlining its strategic relevance within the emerging European AI infrastructure landscape.
Founder / Investor Commentary
Founder and CEO Josh Payne stated that the latest financing strengthens Nscale’s position within the rapidly expanding AI infrastructure market. According to Payne, the company is focused on delivering scalable and high-performance compute capacity capable of meeting accelerating global demand for AI services.
The financing consortium includes several major Nordic and European financial institutions, highlighting growing institutional confidence in long-term infrastructure investments tied to AI deployment and compute demand.
Growth Plans / Use Of Funds
The newly secured financing will primarily support continued development and expansion of the Narvik AI data centre campus. The additional accordion facility could also enable a further 115MW expansion, substantially increasing the site’s future compute capacity.
The funding follows several major financing milestones for Nscale in 2026, including a $2 billion Series C round led by Aker ASA and 8090 Industries, as well as a $1.4 billion delayed draw term loan completed earlier in the year.
Alongside infrastructure construction, the company is expected to continue expanding partnerships with AI developers, enterprise customers, and GPU suppliers as demand for dedicated AI compute environments continues to rise globally.
About Nscale
Nscale is a UK-based AI infrastructure company founded in 2024 that develops and operates integrated infrastructure for artificial intelligence workloads. The company builds systems spanning energy, data centres, GPU compute, and software designed to support enterprise, government, and AI-native applications. Nscale focuses on delivering scalable and energy-efficient infrastructure for advanced AI deployment across cloud and edge computing environments.
