Nscale Raises Additional $790 Million to Expand Norwegian AI Data Center Campus

New updates have been reported about Nscale.

Nscale has secured a further $790 million in committed financing to accelerate development of its AI data center campus in Narvik, Norway, currently the largest dedicated AI infrastructure investment in the country. The facility, which underpins Nscale’s global AI capacity strategy, will also benefit from an additional $790 million uncommitted accordion feature earmarked for a planned 115MW power and capacity expansion at the same site.

The new debt package, provided by a syndicate including ABN AMRO, DNB, Eksfin, Nordea and SEB, follows Nscale’s recent $2 billion Series C round in March 2026 and a $1.4 billion delayed draw term loan closed in February 2026, underscoring tightening financial backing for the company’s vertically integrated model. Founder and CEO Josh Payne said these financings collectively position Nscale at the forefront of global AI infrastructure, as it builds and operates a full-stack platform spanning energy, data centers, GPU compute and software for AI-native customers, enterprises and governments seeking scalable, high-performance capacity and tighter control over AI workloads.