Nscale is to accelerate its global build-out of AI infrastructure after signing a $900 million revolving credit facility.
The London firm said the liquidity will also accelerate its capital deployment across the US, Europe and APAC.
The facility was syndicated across a group of leading financial institutions, including J.P. Morgan, Goldman Sachs, Morgan Stanley, MUFG, RBC Capital Markets, Bank of America, Crédit Agricole CIB, Deutsche Bank, Mizuho, SMBC, TD Securities and KeyBank N.A.
The vertically integrated AI infrastructure company is building the physical and digital foundation to train, deploy and scale AI ‘from cloud to edge’.
By owning and operating the full stack spanning energy, data centres, GPU compute and software, it aims to give AI natives, enterprises and governments efficiency, reliability and control.
“The closing of this revolving credit facility with key global investment banks reflects real institutional confidence in our platform, capital structure, and team,” said Josh Payne, CEO and founder of Nscale.
“We are building the infrastructure that the world’s largest technology companies depend on to train, deploy and scale AI, and this facility increases our flexibility to do that at speed and at scale.”
In just May Nscale announced it had raised an additional $790m in financing to reinforce the continued development of its AI data centre in Narvik, Norway. The project is the largest AI infrastructure investment in the country.
In March Nscale raised $2 billion in Series C funding – led by Aker ASA and 8090 Industries – and secured a $1.4bn delayed draw term loan. Former Deputy Prime Minister and Facebook executive Nick Clegg has also joined its board.