Nscale, a rapidly growing large-scale cloud provider specialising in AI data centres, has raised $2bn (£1.5bn) in a Series C funding round.
Founded in 2023, Nscale has surged intensely, landing itself with a $14.6bn valuation less than three years after securing its first investment.
The company has quickly become integral to the rapidly scaling global AI ecosystem, having received both financial and strategic support from key players including NVIDIA and OpenAI.
Nscale was tapped by US AI giant OpenAI last year to build Stargate Norway, the European arm of OpenAI’s global data centre programme.
The latest funding round, one of the largest ever raised in Europe, was led by Norwegian industrial group Aker ASA and New York’s 8090 Industries along with support from Nvidia, Dell Technologies, Lenovo, Citadel, Jane Street, Nokia and Point72.
Nscale said the capital would go towards expanding its AI infrastructure platform in Europe, North America and Asia.
“This is the fourth industrial revolution; the world is changing at a rapid pace,” said Nscale’s founder and chief executive Josh Payne.
“Over the next five years artificial intelligence will be integrated into every industry, every product and every job. This is leading to the largest infrastructure buildout in human history.”