Nscale Secures $2 Billion Series C, Restructures Norway JV and Adds High-Profile Directors

New updates have been reported about Nscale.

Nscale has raised $2 billion in a Series C round led by Aker ASA and 8090 Industries, valuing the U.K.-based AI infrastructure hyperscaler at $14.6 billion and marking one of the largest private raises in European tech. The capital will be used to accelerate deployment of Nscale’s vertically integrated AI infrastructure stack—spanning GPU compute, networking, data services, and orchestration software—across Europe, North America, and Asia.

The round drew support from major financial and strategic investors, including Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, NVIDIA, and Point72, signaling strong institutional conviction in Nscale’s role in large-scale AI buildouts. CEO and founder Josh Payne framed the company as a core enabler of what he called the “largest infrastructure buildout in human history,” as AI becomes embedded across industries, products, and workflows.

To reinforce governance and strategic depth, Nscale has added Sheryl Sandberg, Susan Decker, and Nick Clegg to its board, complementing existing directors Josh Payne, Rael Nurick, Jacob Leschly, and Øyvind Eriksen. Sandberg brings large-scale operating and growth experience from Meta and Google, Decker contributes financial and governance expertise from roles at Yahoo and multiple public company boards, and Clegg adds policy and regulatory insight from his time in U.K. and European politics and at Meta.

Concurrently, Nscale and Aker agreed to fold their previously announced Aker Nscale joint venture in Norway fully into Nscale, simplifying ownership and decision-making while keeping Aker as a major shareholder. All Norwegian projects will continue under Nscale’s direct control, with a stated focus on responsible deployment, waste heat reuse, local workforce development, and regional infrastructure investment.

Aker CEO Øyvind Eriksen said the consolidation will improve execution by unifying delivery and governance while preserving continuity for existing teams and assets, positioning Nscale for faster progress and long-term value creation in Norway. 8090 Industries’ Rayyan Islam emphasized that Nscale’s vertically integrated approach—from energy and data centers to compute and orchestration—addresses the key bottleneck in the AI economy: scalable, reliable infrastructure capacity.

Goldman Sachs & Co. LLC and J.P. Morgan acted as joint placement agents on the transaction, which includes a Pre-Series C SAFE component. With this financing, Nscale further entrenches itself as a critical infrastructure provider for enterprise AI training, fine-tuning, and inference workloads at scale, and is likely to be a central player in how capital-intensive AI infrastructure is deployed and governed across key global markets.