AI infrastructure startup Nscale raises $2B in Series C funding, reaching a $14.6B valuation and adding Sheryl Sandberg and Nick Clegg to its board.
Nscale, an artificial intelligence infrastructure startup backed by Nvidia, has raised $2 billion in a Series C funding round, valuing the company at $14.6 billion, and appointed former Meta executives Sheryl Sandberg and Nick Clegg to its board.
The round — which the company says is the largest Series C ever raised by a European startup — was led by existing investor Aker ASA, the Norwegian investment firm, along with venture capital firm 8090 Industries.
Additional participants included Astra Capital, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, Nvidia and Point72.
The latest funding follows a $1.4 billion loan secured earlier this year to finance purchases of graphics processing units (GPUs), as well as a $1.1 billion Series B round completed just months earlier.
London-based Nscale develops artificial intelligence infrastructure, including data centers and cloud services, and describes itself as a “hyperscaler engineered for AI.” The company works with major technology firms including OpenAI, Microsoft and Nvidia, which have been investing heavily in the United Kingdom’s AI ecosystem.
Among its projects, Nscale is providing infrastructure for Stargate Norway, an artificial intelligence data center being developed for OpenAI, as well as a similar project in the United Kingdom known as Stargate UK.
The startup emerged from stealth in 2024 and said the new funding will be used to accelerate the expansion of its data center network and support growth in international markets.
Alongside the financing, Nscale announced several high-profile additions to its board of directors. Sandberg and Clegg, both former senior leaders at Meta, will join Susan Decker, a former president of Yahoo.
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Josh Payne, Nscale’s founder and chief executive, said the company is positioning itself to meet surging demand for AI infrastructure.
“This is the fourth industrial revolution,” Payne said in a statement. “Artificial intelligence will increasingly be integrated into every industry, every product and every job.”
He added that the rapid adoption of AI is driving what he described as one of the largest infrastructure expansions in modern technological history.
