Nscale, a UK-based AI infrastructure company, has raised $2 billion in a Series C funding round, the company announced on March 9, 2026. The round, which the company says is the largest Series C ever raised by a European company, values Nscale at $14.6 billion.
Aker ASA and 8090 Industries led the round. Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, NVIDIA, and Point72 also participated. Goldman Sachs and J.P. Morgan served as joint placement agents.
Nscale builds and operates AI data centres spanning GPU compute, networking, data services, and orchestration software. The company runs its own facilities in Glomfjord and Narvik in Norway and Loughton in the UK and a site in Texas. Partner-operated facilities run in Sines, Portugal, and Keflavik, Iceland.
The funding will go toward expanding that footprint across Europe, North America, and Asia, per the company's announcement.
Josh Payne, CEO and Founder of Nscale, said: "This is the fourth industrial revolution; the world is changing at a rapid pace. Over the next 5 years, artificial intelligence will be integrated into every industry, every product, and every job. Accelerating drug discovery, extending human life, autonomising travel and robotics, lifting productivity, and driving massive growth. This is leading to the largest infrastructure buildout in human history. Nscale is leading this buildout. We are building this foundation that the market sits on, the engine of superintelligence."
Damilare Odedina
Sheryl Sandberg, Nick Clegg, and Susan Decker Join the Board
Three directors join Nscale's board alongside the raise, including Sheryl Sandberg, the co-founder of Sandberg Bernthal Venture Partners; Nick Clegg, a general partner at Hiro Capital; and Susan Decker, the CEO and co-founder of Raftr.
The three join Nscale's existing board, which includes Josh Payne, Rael Nurick, Jacob Leschly, and Øyvind Eriksen.
Rayyan Islam, co-founder and general partner of 8090 Industries, said, "We are living through a new era defined by AI, and the limiting factor is infrastructure. Compute, energy, and industrial-scale deployment capacity will determine which nations and companies lead the next generation of technological and economic progress. Nscale has built a platform uniquely capable of solving this challenge by vertically integrating the critical layers of AI infrastructure—from energy and data centres to compute and orchestration."
The Aker Nscale Joint Venture Is Now Fully Part of Nscale
Nscale also announced that the Aker–Nscale joint venture will now be fully integrated into Nscale’s corporate structure.
The joint venture was originally announced in July 2025 as a partnership between Nscale and Aker to build and operate an AI data centre in Narvik, Northern Norway, alongside the Stargate Norway agreement with OpenAI.
Under the new structure, Aker will remain a major shareholder, and its CEO, Øyvind Eriksen, will continue to serve on Nscale’s board.
“This step strengthens execution by putting delivery and governance under one roof, while keeping continuity for the people and projects already underway,” Eriksen said in a statement. “We have full confidence in Nscale’s ability to deliver responsibly in Norway over the long term, and we believe this positions the work for faster progress and durable value creation.”
According to the announcement, all existing projects under the joint venture will continue as planned and remain fully operational within Nscale.
Damilare Odedina
