Nscale Raises $2 Billion Series C — Europe’s Largest AI Infrastructure Funding Round
U.K.-based AI infrastructure hyperscaler Nscale has raised $2 billion in Series C funding, marking one of the largest private funding rounds in European tech history. The round was led by Aker ASA and 8090 Industries and values the company at $14.6 billion.
The funding round also attracted major institutional investors including Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, NVIDIA, and Point72.
With this new capital, Nscale plans to accelerate the global deployment of vertically integrated AI infrastructure, expanding across Europe, North America, and Asia. The company’s platform spans everything from GPU computing and networking to data services and orchestration software, enabling large-scale AI deployment.
Why Nscale’s $2 Billion Funding Matters
Artificial Intelligence is rapidly transforming industries, economies, and national strategies worldwide. However, the biggest limitation to AI growth is not demand but infrastructure capacity.
Large-scale AI requires massive computing power, advanced networking, energy resources, and reliable production environments. Nscale is focused on solving this challenge by building a full-stack AI infrastructure platform designed for enterprise-scale deployments.
The newly raised capital will help the company:
- Expand its global AI data center infrastructure
- Increase GPU compute capacity
- Strengthen its engineering and operations teams
- Enhance its AI orchestration and data services platform
This positions Nscale as a key player in the global AI infrastructure race.
CEO Josh Payne: “AI Is the Fourth Industrial Revolution”
According to Josh Payne, Founder and CEO of Nscale, the world is entering a transformational era driven by artificial intelligence.
He stated that over the next five years, AI will be integrated into nearly every industry, product, and job, enabling breakthroughs in areas such as:
- Drug discovery
- Healthcare innovation
- Autonomous transportation
- Robotics
- Productivity growth
Payne described the current wave of AI investment as “the largest infrastructure buildout in human history.”
He emphasized that Nscale is building the core infrastructure layer that will power the future AI economy.
Nscale Strengthens Its Board with Global Tech Leaders
Alongside the funding announcement, Nscale also revealed the addition of three high-profile board members who bring deep experience in technology, governance, and global policy.
Sheryl Sandberg
Former Chief Operating Officer of Meta and an early executive at Google, Sheryl Sandberg will join the Nscale board.
She is currently the co-founder of Sandberg Bernthal Venture Partners, investing in innovation across sectors including:
- Enterprise technology
- Consumer platforms
- Climate tech
- Healthcare technology
Her expertise in scaling global technology companies will support Nscale’s rapid expansion.
Susan Decker
Susan Decker, former President of Yahoo, will also join the board.
She currently serves on the boards of several major companies, including:
- Costco Wholesale Corporation
- Berkshire Hathaway
- Vail Resorts
- Chime
- Vox Media
- Automattic
Decker brings decades of experience in financial leadership, governance, and strategic growth across technology and media companies.
Nick Clegg
Former UK Deputy Prime Minister and President of Global Affairs at Meta, Nick Clegg will also join the Nscale board.
Currently a General Partner at Hiro Capital, Clegg focuses on supporting emerging technologies such as spatial computing and advanced digital platforms.
His expertise in technology policy and global regulation will be particularly valuable as AI governance becomes increasingly important worldwide.
Aker-Nscale Joint Venture Fully Integrated
As part of the announcement, Nscale confirmed that it has fully integrated the Aker Nscale joint venture, which was originally formed in July 2025.
Going forward:
- Aker will remain a major shareholder in Nscale
- Aker CEO Øyvind Eriksen will continue serving on Nscale’s board
- Existing projects under the joint venture will continue without disruption
This move consolidates governance, delivery, and operations under a single organization, helping streamline execution for large-scale infrastructure projects.
Commitment to Sustainable Infrastructure
Nscale also reaffirmed its commitment to responsible infrastructure development, particularly in Norway where several projects are underway.
The company highlighted its continued focus on:
- Waste heat reuse from data centers
- Local workforce development
- Regional infrastructure investment
According to Øyvind Eriksen, CEO of Aker ASA, integrating the joint venture will strengthen project execution while maintaining continuity for existing teams and communities.
Investor Perspective: AI Infrastructure Is the New Industrial Backbone
Rayyan Islam, Co-founder and General Partner at 8090 Industries, emphasized that AI infrastructure will determine the next wave of global economic leadership.
He highlighted three critical pillars shaping the future of AI:
- Compute power
- Energy resources
- Industrial-scale deployment capacity
According to Islam, Nscale’s vertically integrated platform uniquely connects energy systems, data centers, computing infrastructure, and orchestration technology, creating the backbone needed for the global AI economy.
Advisors for the Funding Round
The Series C funding round was supported by leading financial institutions.
Goldman Sachs & Co. LLC and J.P. Morgan acted as joint placement agents for Nscale in connection with the capital raise, which also includes the company’s Pre-Series C SAFE.
Final Thoughts
The $2 billion Series C funding places Nscale among the most heavily funded AI infrastructure companies in Europe.
As global demand for AI computing power surges, companies like Nscale are becoming critical to enabling the next generation of artificial intelligence innovation.
With strong investor backing, experienced leadership, and a rapidly expanding infrastructure platform, Nscale is positioning itself as a key builder of the global AI economy.
