Nscale Raises $2 Billion in Record Series C Funding, Adds Sandberg, Decker, and Clegg to Board

Nscale has raised $2 billion in Series C funding, the largest in European history, valuing the company at $14.6 billion. The round was led by Aker ASA and 8090 Industries, with participation from Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, NVIDIA, and Point72, announced in a press release.

The funding will support Nscale’s expansion of vertically integrated AI infrastructure across Europe, North America, and Asia, including GPU compute, networking, data services, and orchestration software. The capital will also be used to strengthen engineering and operations teams and scale production-grade AI deployments.

Nscale also announced three new additions to its board of directors: Sheryl Sandberg, former Meta COO; Susan Decker, former Yahoo president; and Nick Clegg, former UK Deputy Prime Minister and Meta executive. They join CEO Josh Payne, Rael Nurick, Jacob Leschly, and Øyvind Eriksen on the board.

Alongside the funding, Nscale and Aker agreed to fully integrate their joint venture, Aker Nscale, into Nscale. Aker will remain a major shareholder, with its CEO Øyvind Eriksen continuing as a board member. The move consolidates governance under one entity while maintaining ongoing projects in Norway.