Sandberg, Clegg join Nscale board as this ‘Stargate Norway’ startup hits $14.6B valuation
Nscale Rockets to $14.6 Billion Valuation in Europe’s Largest AI Infrastructure Deal Yet
In a seismic shift for the European AI landscape, Nscale—a British AI infrastructure powerhouse backed by Nvidia—has officially joined the elite decacorn club with a staggering $14.6 billion valuation. This monumental leap comes hot on the heels of a jaw-dropping $2 billion Series C funding round, which the company proudly dubs “the largest in European history.”
But the story doesn’t stop there. This colossal raise includes a $433 million pre-Series C SAFE, fueled by heavyweight backers like Blue Owl, Dell, Nvidia, and Nokia. With Goldman Sachs and JPMorgan orchestrating the deal, industry insiders are already whispering about an imminent IPO—potentially as early as this year—as Nscale CEO Josh Payne hinted to The New York Times.
A Star-Studded Board and Unstoppable Momentum
Nscale isn’t just stacking cash; it’s stacking clout. The company has just announced the addition of three titans to its board: former Meta COO Sheryl Sandberg, ex-Yahoo president Susan Decker, and former U.K. deputy prime minister Nick Clegg. This all-star lineup signals Nscale’s ambitions to dominate not just the tech world, but the global stage.
And the momentum is relentless. In September, Nscale closed a $1.1 billion Series B led by Aker, the Norwegian energy giant. Now, Aker is co-leading the Series C alongside New York’s 8090 Industries. The two have also agreed to fold Aker’s joint venture, “Stargate Norway,” fully under Nscale’s control. This ambitious project aims to deploy 100,000 Nvidia GPUs by the end of 2026, with OpenAI as its inaugural customer.
Microsoft, Dell, and a Global GPU Empire
Last October, Nscale inked a blockbuster deal with Microsoft to deploy approximately 200,000 Nvidia GPUs across three European data centers and one in the U.S., in collaboration with Dell. This partnership underscores Nscale’s strategy of vertical integration—controlling everything from energy and data centers to compute and orchestration software.
The Series C saw participation from an all-star investor roster: Astra Capital, Citadel, Jane Street, Lenovo, Linden Advisors, Nokia, and Point72. Nscale plans to use this war chest to turbocharge its AI infrastructure across Europe, North America, and Asia, while expanding its engineering and operations teams.
Debt, GPUs, and a Green Future
But Nscale isn’t just raising equity. Last month, it secured a $1.4 billion delayed draw term loan, backed by its GPU assets, to finance new clusters across Europe. The company is positioning itself at the intersection of rising enterprise demand, low-cost renewable energy, and sustainable innovation. As part of Stargate Norway, Nscale has pledged to reuse waste heat, develop local skills, and invest in regional infrastructure—proving that AI’s future can be both powerful and planet-friendly.
The Race to AI Supremacy Heats Up
With its new valuation, Nscale now stands shoulder-to-shoulder with Europe’s other AI giants like Helsing and Mistral AI. But Nscale’s ambitions stretch far beyond the continent. With Nvidia’s backing, a board of legends, and a war chest that could rival Silicon Valley’s best, Nscale is poised to become a global AI infrastructure juggernaut.
As the race for AI supremacy accelerates, one thing is clear: Nscale isn’t just building data centers—it’s building the backbone of the AI revolution. And with an IPO potentially on the horizon, the world will be watching as this British upstart aims to redefine the future of computing.
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