Nscale, the London-based AI infrastructure company, has secured USD 790 million in new financing to support the continued development of its artificial intelligence data center in Narvik, Norway, in what the company describes as the largest AI infrastructure investment in Norway to date.

The Financing Package

The committed financing was provided by a consortium of five financial institutions: ABN AMRO, DNB, Eksfin, Nordea, and SEB. ABN AMRO Bank N.V., DNB Bank ASA, and Nordea Bank Abp act as bookrunners on the deal.

Alongside them, Export Finance Norway, known in Norwegian as Eksportfinansiering Norge, and Skandinaviska Enskilda Banken AB serve as mandated lead arrangers.

In addition to the USD 790 million in committed financing, the package also includes an uncommitted accordion feature of a further USD 790 million, structured to fund an additional 115 megawatt expansion at the Narvik AI data center campus. The accordion feature would bring the total potential financing capacity of this arrangement to USD 1.58 billion if fully drawn.

The Narvik Campus

The financing is directed at Nscale's AI data center located in Narvik, in northern Norway. The company has described the project as the largest AI infrastructure investment in the country.

According to Nscale, the new funding reinforces the continued development of the existing campus and follows a recently signed agreement tied to the Narvik site, though the specific details of that prior agreement were not disclosed in the announcement.

The planned 115 megawatt expansion, which the accordion feature is designed to support, would extend the capacity of the Narvik facility beyond its current footprint. Nscale has not specified the total current capacity of the data center in this announcement.

Part of a Broader Financing Trajectory

The USD 790 million announcement is the latest in a series of major capital raises Nscale has completed in rapid succession. In February 2026, the company closed a USD 1.4 billion delayed draw term loan. The following month, in March 2026, Nscale completed a USD 2 billion Series C funding round led by Aker ASA and 8090 Industries.

Taken together, these transactions represent billions of dollars in capital commitments secured by Nscale across a period of just a few months in early 2026. The company did not provide a cumulative total across all financing arrangements in this announcement.

Josh Payne, Founder and CEO of Nscale, commented on the developments: "Together, these developments position Nscale at the forefront of global AI infrastructure, delivering scalable, high-performance capacity to meet rapidly growing demand for our services."

About Nscale

Nscale describes itself as a vertically integrated AI infrastructure company. The company states that it owns and operates what it calls the full stack of AI infrastructure, spanning energy, data centers, GPU compute, and software.

According to the company, this integrated model is designed to serve AI-native companies, enterprises, and governments by providing what Nscale characterizes as efficiency, reliability, and control for advanced AI workloads.

The company is headquartered in London and positions itself as building both the physical and digital foundation necessary to train, deploy, and scale artificial intelligence from cloud to edge environments.

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