AI data center startup Nscale has raised $2 billion in a $14.6 billion valuation, the company announced Monday, as the AI infrastructure boom continues.
Series C included Nvidia and was led by Aker ASA and 8090 Industries. Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia and Point72 also participated.
Enscale is also announcing three new directors to its board, including Ex Meta COO Sheryl Sandberg, former UK Deputy Prime Minister and Meta executive Nick Clegg and former Yahoo President Susan Decker.
Founded in 2024, Enscale has emerged as a major player in building AI infrastructure, developing data centers and operating cloud computing services.
The UK-based startup has raised a large amount of funding over the past year as investors flocked to the sector. It announced a $1.4 billion delayed draw term loan in February and a $1.1 billion Series B in September. It did not disclose the valuation achieved with Series B.
A source with direct knowledge of the matter told CNBC that the latest valuation is more than double the confidential valuation achieved with Series B. The company declined to comment.
Fresh funding includes a $433 million pre-Series C SAFE round in October.
The fresh capital will help accelerate Nscale’s development of vertically integrated AI infrastructure — from GPU compute and networking to data services and orchestration software — across Europe, North America and Asia, the company said in a statement.
The AI boom will “lead to the biggest infrastructure build-out in human history,” said Josh Payne, CEO and founder of UK-based Nscale, echoing earlier comments by Jensen Huang, CEO at Nvidia. “We’re building this foundation that the market sits on, a super intelligence engine.”
Nscale is eyeing an initial public offering, the company confirmed to CNBC in October.
The startup, which operates data centers in the UK, US, Norway, Portugal and Iceland, has inked deals with several big tech companies in recent times.
Announces “expanded partnership” with Nscale Microsoft In October, the younger company earned $14 billion, a figure first reported by the FT and verified by CNBC. Over the summer, it partnered with OpenAI to launch a Stargate-branded AI data center in Norway.
(tags to translate)NVIDIA Corp
