U.K.-based AI infrastructure hyperscaler Nscale announced $2 billion in Series C funding on Monday, March 9, 2026, valuing the company at $14.6 billion. The raise, which the company calls the largest in European history, will accelerate the deployment of AI infrastructure globally.
The funding round was led by Aker ASA and 8090 Industries, with support from Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, NVIDIA, and Point72. This investment comes as demand for AI computing power continues to surge, and highlights the critical need for scalable infrastructure to support its growth.
Nscale focuses on vertically integrated AI infrastructure, encompassing GPU compute, networking, data services, and orchestration software across Europe, North America, and Asia. “AI is reshaping industries, economies and national strategies, and accelerated computing platforms are the engine driving that shift,” the company stated in a press release. “The constraint on market scaling is not demand, but the ability to deploy capacity and run it reliably in production.”
Alongside the funding announcement, Nscale revealed that Sheryl Sandberg, Susan Decker, and Nick Clegg will join its Board of Directors. Sandberg is Co-Founder of Sandberg Bernthal Venture Partners and previously served as Chief Operating Officer at Meta, while Decker is a former president of Yahoo and Clegg is a former U.K. Deputy prime minister.
The company also has a significant project underway dubbed “Stargate Norway,” a joint venture with Aker, aiming to run on 100,000 Nvidia GPUs by the end of 2026, with OpenAI as an initial customer. According to Aker president and CEO, Øyvind Eriksen, “this step strengthens execution by putting delivery and governance under one roof, while keeping continuity for the people and projects already underway.”
Nscale previously secured $1.1 billion in Series B funding in September, led by Aker. Aker has also agreed to fully manage the Stargate Norway project. The company’s CEO, Josh Payne, indicated a potential public offering “as early as this year” to generate further capital, according to TechCrunch. This move suggests confidence in the company’s trajectory and a desire to capitalize on the growing AI market.
The substantial funding and high-profile board additions position Nscale as a key player in the rapidly evolving AI infrastructure landscape. The company’s focus on end-to-end integration aims to address the bottlenecks currently hindering wider AI adoption.
