Nscale raises $1.1bn Series B led by Aker ASA
The financing supports AI data-centre deployment and expansion of the company’s engineering and operations teams.
The investment will help Nscale deliver projects including Stargate UK and Stargate Norway while expanding its AI cloud platform across Europe, North America and the Middle East. It follows the company’s infrastructure partnerships with Aker, Microsoft, NVIDIA and OpenAI.
Sandton Capital Partners returned alongside Dell, Fidelity Management & Research Company, G Squared, Nokia, NVIDIA, Point72 and T.Capital. Funds managed by Blue Owl also participated. Goldman Sachs served as exclusive placement agent. Alongside physical capacity, Nscale was developing fine-tuning, inference and orchestration services for enterprise and government customers.
Use of funds
Deploy AI infrastructure in Europe, North America and the Middle East.
Expand engineering and operations teams and the AI cloud platform.