Nscale signs $1.4bn GPU-backed delayed-draw loan
Funds managed by PIMCO, Blue Owl and LuminArx lead financing for contracted GPU clusters across four European markets.
The delayed-draw structure supports purchases of GPU infrastructure as Nscale builds contracted clusters in Norway, Portugal, Iceland and the United Kingdom. The facility also provides capital-expenditure funding and liquidity for pipeline projects, tying financing to the equipment and deployment programme.
Goldman Sachs acted as sole structuring and placement agent. Additional asset managers and banks supported the transaction, although Nscale did not identify them. The financing adds debt capacity alongside the company’s previously announced equity and SAFE funding.
Use of funds
Purchase GPU infrastructure for contracted clusters in Norway, Portugal, Iceland and the United Kingdom.
Support capital expenditure and liquidity for pipeline clusters.