London-based AI data centre group Nscale’s meteoric rise continues with a new $790m (£580m) investment.
Nscale has raised the additional financing to support the development of an AI data centre in Narvik, Norway.
The injection comes just two months after the company was valued at $14bn following a £1.5bn Series C funding round.
“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,” commented Nscale founder and chief executive Josh Payne.
Founded in 2023, Nscale has been one of the UK’s largest beneficiaries of the surge in demand for compute capacity as part of the rise of generative AI.
The company has been backed by the sector’s largest and most powerful figures, including NVIDIA and OpenAI.
