Aker-Backed Nscale to Build Major AI Power and Compute Hub in West Virginia

Aker ASA ( (AKAAF) ) has provided an update.

Aker-backed Nscale Global Holdings has agreed to acquire American Intelligence & Power Corporation, securing rights to the 2,250-acre Monarch site in West Virginia that is planned as a vertically integrated AI factory with dedicated on-site power. The project aims to operate independently of the local grid, combining large-scale energy generation and AI compute capacity in a single location.

Nscale has also announced a strategic collaboration with Caterpillar to install natural gas generator sets targeting 2 GW of power by mid-2028, with an ambition to scale to 8 GW by 2031, and has signed a Letter of Intent with Microsoft for 1.35 GW of AI compute using about 430,000 NVIDIA Vera Rubin GPUs at Monarch. While the AIP acquisition will slightly dilute existing Nscale shareholders and trim Aker’s fully diluted stake from 23.9% to 22.7%, it is positioned as a material value creator that strengthens Nscale’s push to become a global AI infrastructure player and deepens its commercial ties with Microsoft in the North American market.

The most recent analyst rating on (AKAAF) stock is a Sell with a NOK565.00 price target. To see the full list of analyst forecasts on Aker ASA stock, see the AKAAF Stock Forecast page.

More about Aker ASA

Aker ASA is a Norwegian industrial investment company with significant holdings in energy, industrial and technology-focused businesses. Through its stake in Nscale Global Holdings, Aker is increasingly exposed to large-scale digital infrastructure and AI-focused energy and compute projects, particularly in North America and other high-growth technology markets.

YTD Price Performance: 39.84%

Average Trading Volume: 57,860

Current Market Cap: NOK79.78B

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