AI hyperscaler Nscale has raised $2 billion (£1.5bn) in Series C financing, marking the largest round of its kind in European history.
The round was led by Aker ASA and 8090 Industries, and was supported by Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, NVIDIA and Point72.
It values Nscale at $14.6 billion.
Headquartered in London, the firm operates globally as an AI-native infrastructure platform.
The raise will further accelerate its development of vertically integrated AI infrastructure — from GPU compute and networking to data services and orchestration software — across Europe, North America and Asia.
Sheryl Sandberg, Susan Decker and Nick Clegg (pictured) have joined the Nscale board, bringing substantial global depth across technology, policy, operations and governance.
Sandberg, a former COO of Meta and an early executive at Google, is currently the co-founder of Sandberg Bernthal Venture Partners, which deploys private capital to fund innovation across consumer, enterprise, climate and healthcare technology.
Decker is the CEO and co-founder of Raftr, a community experience platform for universities. She is a former president of Yahoo, Inc. and currently a board member at Costco Wholesale Corporation, Berkshire Hathaway, Vail Resorts, Chime, Vox Media, and Automattic.
Clegg, a general partner at Hiro Capital, is both a former UK Deputy Prime Minister and former president, global affairs at Meta.
“This is the fourth industrial revolution; the world is changing at a rapid pace,” said Josh Payne, CEO and founder of Nscale..
“Over the next five years, artificial intelligence will be integrated into every industry, every product, and every job. Accelerating drug discovery, extending human life, autonomizing travel and robotics, lifting productivity, and driving massive growth.
“This is leading to the largest infrastructure buildout in human history. Nscale is leading this buildout.
“We are building this foundation that the market sits on, the engine of superintelligence.”
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Meanwhile Nscale has reached an agreement with Aker to roll the Aker Nscale joint venture — announced in July 2025 — fully into Nscale. Going forward, Aker will remain a leading shareholder in Nscale with its CEO Øyvind Eriksen continuing to serve on the Nscale board.
This decision consolidates delivery and governance under one entity, it says, while ensuring all existing projects under the joint venture continue and remain fully operational as part of Nscale.
The ongoing partnership has been foundational to Nscale’s growth and demonstrates its continued commitment to playing a positive, long-term role in the communities where it operates. Nscale’s firm pledge to waste heat reuse, local skills development, and investment in regional infrastructure remains unchanged, it says.