Nvidia-backed Nscale raises $2BN, appoints Sheryl Sandberg, Nick Clegg to board
Nvidia-backed Nscale has secured a monumental $2 billion in Series C funding, propelling its valuation to $14.6 billion. This substantial investment, billed as Europe's largest Series C ever, underscores the burgeoning demand for AI infrastructure and highlights Nscale's critical role in supporting the continent's digital ambitions. The infusion of capital is poised to accelerate Nscale's expansion and reinforce its position in the competitive AI landscape. The funding round saw significant backing from existing investor Aker ASA, a Norwegian investment firm, and venture capital firm 8090 Industries, alongside participation from tech giants like Dell, Lenovo, and Nokia, as well as Nvidia itself. Nscale, which emerged from stealth in 2024, utilizes these funds to expedite the development of its AI infrastructure, including its data center offerings and international market expansion. The company has also strengthened its leadership with the appointment of former Meta executives Sheryl Sandberg and Nick Clegg to its board, signaling a strategic move towards enhanced global reach and expertise. Nscale's core mission involves building hyperscale data centers engineered specifically for AI workloads, positioning itself as a crucial local partner for major AI players like OpenAI and Microsoft. The startup is actively developing AI infrastructure for key projects such as OpenAI's Stargate data centers in Norway and the UK, demonstrating its direct contribution to the foundational elements of advanced AI development within Europe. This strategic focus on building robust digital infrastructure is vital for fostering European digital sovereignty and enabling domestic innovation.
Curated and translated by Europe Digital for our multilingual European audience.
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