Narvik project financing · AI
Nscale secures $790m for its Narvik AI campus
ABN AMRO, DNB, Eksfin, Nordea and SEB commit project financing for continued development in Norway.
The package pairs committed financing with a separate $790 million uncommitted accordion for a further 115 megawatts of expansion. The accordion offers a route to additional funding as the campus grows; it is not part of the $790 million committed amount.
ABN AMRO, DNB and Nordea served as bookrunners. Together with Export Finance Norway and SEB, they also acted as mandated lead arrangers. The financing supports Nscale’s development of the Narvik site, where it is building capacity for AI computing.
Use of funds
Continue development of the Narvik AI campus in Norway.