Nscale Secures $790 Million to Expand AI Data Center in Norway

May 12, 2026
Nscale has obtained $790 million in financing from a group of Nordic and European banks to support the expansion of its AI data center in Narvik, Norway. The deal includes an option for an additional $790 million to fund a further 115 MW of capacity.

Nscale has secured $790 million in financing to support the continued development of its AI data center in Narvik, Norway, announced in a press release. The financing was arranged by a consortium including ABN Amro, DNB, Eksfin, Nordea, and SEB.

The package includes an additional uncommitted accordion feature of $790 million to fund a further 115 megawatts of capacity at the Narvik site. The project is described as the largest AI infrastructure investment in Norway.

The financing follows Nscale's $2 billion Series C round in March 2026 and a $1.4 billion Delayed Draw Term Loan completed in February 2026. ABN Amro, DNB, and Nordea acted as bookrunners, while Eksfin and SEB participated as mandated lead arrangers.

Nscale operates as a vertically integrated AI infrastructure company managing energy, data centers, GPU compute, and software to support large scale AI deployments.

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