Nscale, the hyperscaler engineered for AI, has raised £750m in the largest Series B in UK and European history. The round was led by Aker ASA, with support from Sandton Capital, Blue Owl Managed Funds, Dell, Fidelity Management & Research Company, G Squared, Nokia, NVIDIA, Point72 and T.Capital.
Nscale, headquartered in the UK and operating globally, delivers vertically integrated compute, networking, storage, software and AI services through its owned and colocated data centres.
Its platform directly tackles the global GPU shortage, powering AI in one of the fastest-growing infrastructure markets. With data centres anchored in Europe and built on low-cost renewable energy, Nscale provides enterprises with affordable, compliant and sustainable compute capacity. From Norway’s large-scale hubs to smaller metro clusters for latency-sensitive workloads, its facilities launch faster and cheaper than industry benchmarks.
The new capital will accelerate global rollout across Europe, North America and the Middle East. It will fuel deployment of “AI factory” data centres for projects such as Stargate UK and Stargate Norway, expand Nscale’s AI cloud platform, and grow engineering and operations teams.
Nscale’s leadership has built over 50 data centres and scaled multi-billion-pound infrastructure businesses. It combines one of the world’s largest GPU pipelines with the expertise to deliver at global scale.
The company is also pushing innovation across the AI stack, launching fine-tuning services, inference APIs, an AI Studio, orchestration tools and private cloud enhancements.
This raise follows Nscale’s commitment with Microsoft to build the UK’s largest AI supercomputer at its AI Campus in Loughton. Nscale, OpenAI and NVIDIA are also partnering on Stargate UK, while in Norway, Nscale and Aker ASA are working with OpenAI and Microsoft on a major AI infrastructure rollout.
Nscale is also expanding its partnership with Dell Technologies, using Dell AI infrastructure to advance sovereign AI across Europe.
We are building the AI-native Infrastructure platform of tomorrow. AI is reshaping industries, economies, and national strategies – but it cannot happen without the physical backbone: the data centres, the GPUs and the software to orchestrate them. We are building a vertically integrated, AI-engineered foundation designed to power the next generation of technological change, enabling industries and innovators across the globe to achieve what today feels impossible.
Josh Payne, Founder & CEO
AI is reshaping the global economy and redefining the value of renewable energy. With Nscale, we’re backing infrastructure that’s sovereign, scalable and purpose-built to accelerate this transformation. Nscale’s full-stack, GPU-first model gives it a real edge in execution. The scale and quality of this Series B round are a testament to Nscale’s vision and momentum – and to the strength of our collaboration. Through both our Series B investment and joint venture, we’re making a significant, long-term commitment to building industrial relevance in the age of AI.
Øyvind Eriksen, President & CEO at Aker ASA
Over just a few months, Nscale has moved with focus and velocity – turning ambitious plans into production capacity and becoming meaningfully relevant, fast. The team is building massive-scale, sovereign infrastructure that enterprises and nations can actually consume – reliable, efficient, and close to their data. We’re excited to support Josh and the Nscale team as they scale with discipline, equip builders with infrastructure, and establish a strategic foundation for national AI leadership.
Larry Aschebrook, Founding Partner at G Squared
Demand for the build-out of secure, scalable AI infrastructure in Europe and across the world continues to accelerate. Nokia is participating in Nscale’s investment round and announcing a partnership with Nscale to combine our expertise in IP and optical networking with their leading infrastructure platform, enabling the innovation needed for the future of AI infrastructure.
Justin Hotard, President & CEO at Nokia
