London’s Nscale signs €1.1 billion debt facility to deploy large-scale GPU clusters in Europe
Nscale, a London-based AI infrastructure provider, has secured a significant €1.1 billion ($1.4 billion) debt facility to accelerate the deployment of large-scale GPU clusters across Europe. This substantial financing, led by prominent investment funds, is earmarked for acquiring essential GPU hardware, directly addressing the surging enterprise demand for AI computing power. The move underscores a growing commitment to bolstering European AI capabilities and reducing reliance on non-European hyperscalers. The debt facility, structured as a Delayed Draw Term Loan (DDTL), will enable Nscale to fund a portion of its capital expenditure for GPU infrastructure. This allows the company to fulfill existing contracts for multiple large-scale compute clusters and maintain liquidity for prospective projects. Nscale leverages strategically located data centres that utilize low-cost renewable energy, enabling them to offer cost-effective AI infrastructure solutions to their clients. This significant financial injection for Nscale follows substantial equity funding rounds, including a €146 million Series A and a €936 million Series B, signaling robust investor confidence in its growth trajectory. It also aligns with a broader trend of European AI infrastructure startups, such as Finland's DataCrunch and London's NexGen Cloud, attracting considerable investment to build out sovereign AI compute capacity and challenge the dominance of US tech giants.
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