Nscale Secures $1.1 Billion for AI Data Center Expansion

September 26, 2025
Nscale, a UK-based AI data center developer, has raised $1.1 billion in a financing round led by Aker ASA, with participation from Nvidia and Nokia, to expand its infrastructure footprint.

Nscale, a UK-based developer of AI data centers, has raised $1.1 billion in financing to expand its infrastructure, according to Bloomberg. The funding round was led by Norwegian energy conglomerate Aker, with participation from investors including Nvidia and Nokia.

The investment will support Nscale's plans to construct a data center in Norway, with OpenAI as an anchor customer. Aker has committed $285 million in cash and land for the project, securing a 9.3% stake in Nscale. The financing round values Nscale at approximately $3.1 billion.

Nscale, which emerged from a cryptocurrency mining operation, is now focused on developing AI infrastructure. The company plans to use the funds to deploy AI infrastructure across Europe, North America, and the Middle East. This expansion includes a significant investment in UK data centers, where Nscale aims to install 60,000 Nvidia GPUs as part of an £11 billion investment alongside US hyperscaler Coreweave.

The startup's recent partnerships with tech giants like OpenAI and Microsoft highlight its strategic role in the growing demand for AI computing resources. Nscale's collaboration with Microsoft involves a $6.2 billion agreement to provide AI computing capacity from a new data center in Norway.

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