Nscale, the UK-headquartered AI infrastructure company, has announced it raised USD 1.1 billion in Series B funding on September 25, 2025, marking the largest Series B round in both UK and European history. The financing was led by Aker ASA, with continued support from existing shareholders including Sandton Capital, and participation from Blue Owl Managed Funds, Dell, Fidelity Management & Research Company, G Squared, Nokia, NVIDIA, Point72, and T.Capital.

The oversubscribed funding round will accelerate Nscale's growth across Europe, North America, and the Middle East. Goldman Sachs & Co. LLC acted as exclusive placement agent for Nscale in connection with this capital raise.

Company Operations and Infrastructure

Nscale operates as an AI-native infrastructure platform, providing vertically integrated compute, networking, storage, managed software, and AI services delivered in Nscale-owned and colocated data centers. The company directly addresses the surging enterprise demand for GPUs, which are described as the engines driving AI in one of the fastest-growing infrastructure markets.

The company's strategically located data centers generate some of the lowest-cost renewable energy in the world, allowing Nscale to pass these significant savings directly to customers while meeting stringent regulatory requirements. Its facilities range from large-scale hubs in Norway to smaller metro clusters designed for latency-sensitive workloads, with next-generation facilities that can be delivered more quickly and at a lower cost than industry benchmarks.

Funding Utilization and Expansion Plans

The new funding will be used to further Nscale's deployment of large-scale AI infrastructure across Europe, North America, and the Middle East, enabling the rapid rollout of the company's “AI factory” data centers for projects like Stargate UK and Stargate Norway. The capital will also support the expansion of its vertically integrated AI cloud platform. Additionally, this funding will accelerate the expansion of Nscale's engineering and operations teams, strengthening delivery for enterprise and government customers worldwide.

The company is also accelerating product innovation across the AI stack, launching a fine-tuning service, advanced inference APIs, an AI Studio, robust orchestration tools and private cloud enhancements.

Strategic Partnerships and Recent Announcements

The funding announcement follows several significant partnership announcements. Nscale recently announced its commitment to UK AI infrastructure with Microsoft, developing plans for the UK's largest AI supercomputer on Nscale's AI Campus in Loughton. The company also announced that Nscale, OpenAI, and NVIDIA are together establishing Stargate UK, an overarching infrastructure platform designed to deploy OpenAI's technology in the UK, with a particular focus on sovereign workloads.

In July, Nscale announced the launch of Stargate Norway, its landmark partnership with Aker ASA and OpenAI, to bring Europe's first hyperscale AI to market. The partnership aims to deliver 100,000 NVIDIA GPUs by the end of 2026. Two months later, the Nscale-Aker joint venture deepened this momentum with a multi-billion-dollar agreement with Microsoft to deliver AI infrastructure in Narvik, Norway.

Looking ahead, Nscale will expand its relationship with Dell Technologies, using Dell AI infrastructure to further support sovereign AI efforts in Europe. Nokia is participating in Nscale's investment round and announcing a partnership with Nscale to combine Nokia's expertise in IP and optical networking with Nscale's infrastructure platform.

Leadership and Industry Response

Josh Payne, CEO of Nscale, stated: “We are building the AI-native Infrastructure platform of tomorrow. AI is reshaping industries, economies, and national strategies – but it cannot happen without the physical backbone: the data centers, the GPUs, and the software to orchestrate them. We are building a vertically integrated, AI-engineered foundation designed to power the next generation of technological change, enabling industries and innovators across the globe to achieve what today feels impossible.”

Payne added: “We are creating one of the largest global platforms of its kind – purpose-built to meet surging demand and unlock breakthroughs at unprecedented scale. This allows Nscale to provide our customers access to scarce, and highly sought after, compute capacity and rapidly accelerate the build-out of secure, compliant and energy-efficient AI infrastructure. Europe needs a Hyperscaler, and Nscale is rising to the challenge.”

Øyvind Eriksen, President & CEO of Aker ASA, commented: “AI is reshaping the global economy and redefining the value of renewable energy. With Nscale, we're backing infrastructure that's sovereign, scalable and purpose-built to accelerate this transformation. Nscale's full-stack, GPU-first model gives it a real edge in execution. The scale and quality of this Series B round are a testament to Nscale's vision and momentum – and to the strength of our collaboration.”

Larry Aschebrook, Founder & Managing Partner of G Squared, noted: “Over just a few months, Nscale has moved with focus and velocity – turning ambitious plans into production capacity and becoming meaningfully relevant, fast. The team is building massive-scale, sovereign infrastructure that enterprises and nations can actually consume – reliable, efficient, and close to their data.”

Justin Hotard, President and CEO of Nokia, stated: “Demand for the build-out of secure, scalable AI infrastructure in Europe and across the world continues to accelerate. Nokia is participating in Nscale's investment round and announcing a partnership with Nscale to combine our expertise in IP and optical networking with their leading infrastructure platform, enabling the innovation needed for the future of AI infrastructure.”

Adrian McDonald, President, EMEA, Dell Technologies, said: “The future of AI hinges on empowering every nation to innovate securely, independently and on its own terms. We help transform sovereign ambition into global impact by delivering the foundational infrastructure and services needed to realize this vision. Through Dell's strategic investment and the power of our AI solutions, Nscale is building tailored platforms that drive meaningful progress for citizens and industries worldwide.”

UK AI Minister Kanishka Narayan commented: “The success of UK-founded companies like Nscale shows how our country can be at the cutting edge of AI. By attracting global expertise and investment, it is building the essential infrastructure for the UK to compete internationally, drive growth, and create jobs across the country.” Nscale is backed by a seasoned leadership team that has built over 50 data centres, developed leading supercomputing platforms, negotiated large-scale technology contracts and scaled multi-billion-dollar infrastructure businesses.

The company combines one of the world's largest GPU pipelines with the proven expertise to deliver at global scale.

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