Nscale, a London-based AI infrastructure company, has raised US$1.1 billion in a series B funding round led by Norway’s Aker, with participation from Nvidia, Nokia, and Dell.

Spun out from Australian cryptocurrency mining firm Arkon Energy in 2023, the company develops data centers designed for AI workloads.

The funding will support Nscale’s AI data center projects across Europe, including facilities for OpenAI’s Stargate initiative in the UK and Norway.

Part of the investment will fund a US$1 billion data center in Norway, targeting 100,000 Nvidia GPUs by 2027.

The UK site is expected to launch with 8,000 GPUs in early 2026, with an option to scale to 31,000 GPUs, addressing growing demand for high-performance computing for AI model development.

🔗 Source: CNBC