Data center builder Nscale has closed Europe’s largest AI VC round as it looks to scale up its AI infrastructure globally.
The UK-based company raised $2 billion in its Series C, including a previously announced $433 million SAFE round. The round comes less than six months after a $1.1 billion Series B led by Aker. The Norwegian industrial investment group was also the lead for the Series C, increasing its ownership from 9.3% to 23.9%.
New York-based 8090 Industries co-led the round, which was supported by other investors including Point72, Jane Street and Nvidia.
Nscale now boasts a valuation of $14.6 billion, more than quadruple the $3.1 billion it achieved in its Series B.
The company also announced a trio of new directors. Former Meta exec Sheryl Sandberg will join the board, alongside former Yahoo president Susan Decker and former UK deputy prime minister Nick Clegg.
Spun out of Australian bitcoin mining company Arkon Energy in 2024, Nscale has quickly emerged as a prominent player in the AI infrastructure space. It has already inked deals with heavyweights including Microsoft, Nvidia and OpenAI to build supercomputers and gigafactories.
Last year, Nscale also committed to investing $2.5 billion in the UK’s AI startup ecosystem and infrastructure.
The race for computing power has triggered an explosion in AI infrastructure investment. According to Morningstar’s 2026 Global Outlook Report, hyperscalers’ combined capital expenditures this year, much of which is going to data center expansion, are estimated to surpass $450 billion.
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