Amid growing demand for data centers that can deliver AI computing at scale, Backed by Nvidia British AI infrastructure company Nescala It is now valued at $14.6 billion. This makes it one of the last decacorns in Europe along with Helsing and Mistral AI.
Nscale has opted for vertical integration, from energy and data centers to computing and orchestration software. Your new assessment arises from a $2 billion Series Cwhich he calls “the largest in European history”, although the figure includes a $433 million pre-Series C SAFE backed by Blue Owl, Dell, Nvidia and Nokia in October.
The increase was supported by Goldman Sachs and JPMorgan, whose participation has been interpreted in preparation for the IPO – and not without reason: Josh Payne, CEO of Nscale told the New York Times Your company could try to go public “this year” to generate more capital.
In addition to its funding and plans, the company also announced that former Meta COO Sheryl Sandberg, former Yahoo President Susan Decker, and former UK Deputy Prime Minister Nick Clegg will join its board of directors.
Nscale is not a newcomer to the big rounds and announcements. In September it was announced a Series B of 1.1 billion dollars led by Aker. Aker is a Norwegian public company with energy interests and is also co-leading the Series C with New York-based investment firm 8090 Industries.
The companies also agreed that Aker’s joint venture with Nscale will now be managed entirely by the startup. Dubbed “Stargate Norway,” this Norway-based AI infrastructure project has ambitions to will run on 100,000 Nvidia GPUs by the end of 2026with OpenAI as an initial client.
According to Aker President and CEO Øyvind Eriksen, who sits on Nscale’s board of directors, “this step strengthens execution by putting delivery and governance under one roof, while maintaining continuity for the people and projects already underway.”
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Last October, Nscale had also signed a extended deal with Microsoft to bring approximately 200,000 Nvidia GPUs to three data centers in Europe and one in the US, in collaboration with Dell.
Dell and Nvidia participated in the Series C, as did Astra Capital, Citadel, Jane Street, Lenovo, Linden Advisors, Nokia and Point72. Nscale expects the new funding to accelerate the development of its AI infrastructure in Europe, North America and Asia, while helping the company expand its engineering and operations teams and strengthen its platform.
Stocks aside, the company also increased its debt last month, with a delayed term loan worth $1.4 billion backed by GPU to finance some of its clusters across Europe. It aims to harness growing business demand and low-cost renewable energy while renewing its commitment to reusing waste heat, developing local skills and investing in regional infrastructure as part of Stargate Norway.
