Amid growing demand for data centers that can deliver AI compute at scale, Nvidia-backed British AI infrastructure company Nscale is now valued at $14.6 billion. This makes it one of Europe’s latest decacorns alongside Helsing and Mistral AI.
Nscale has bet on vertical integration, from energy and data centers to compute and orchestration software. Its new valuation stems from a $2 billion Series C, which it calls “the largest in European history,” though the figure includes a $433 million pre-Series C SAFE backed by Blue Owl, Dell, Nvidia and Nokia in October.
The raise was supported by Goldman Sachs and JPMorgan, whose involvement has been interpreted as IPO preparation — and not without reason: Nscale CEO Josh Payne told The New York Times his company might seek to go public “as early as this year” to generate more capital.
Alongside its funding and plans, the company also announced that former Meta COO Sheryl Sandberg, former Yahoo president Susan Decker, and former U.K. deputy prime minister Nick Clegg are joining its board.
Nscale is no newcomer to big rounds and announcements. In September, it announced a $1.1 billion Series B led by Aker. Aker is a public Norwegian company with interests in energy and is also co-leading the Series C alongside New York-based investment firm 8090 Industries.
The companies also agreed that Aker’s joint venture with Nscale will now be fully managed by the startup. Dubbed “Stargate Norway,” this Norway-based AI infrastructure project has the ambition to run on 100,000 Nvidia GPUs by the end of 2026, with OpenAI as an initial customer.
According to Aker president and CEO, Øyvind Eriksen, who sits on Nscale’s board, “this step strengthens execution by putting delivery and governance under one roof, while keeping continuity for the people and projects already underway.”
Techcrunch event Disrupt 2026: The tech ecosystem, all in one room Your next round. Your next hire. Your next breakout opportunity. Find it at TechCrunch Disrupt 2026, where 10,000+ founders, investors, and tech leaders gather for three days of 250+ tactical sessions, powerful introductions, and market-defining innovation. Register now to save up to $400. Save up to $300 or 30% to TechCrunch Founder Summit 1,000+ founders and investors come together at TechCrunch Founder Summit 2026 for a full day focused on growth, execution, and real-world scaling. Learn from founders and investors who have shaped the industry. Connect with peers navigating similar growth stages. Walk away with tactics you can apply immediately
Offer ends March 13. San Francisco, CA | REGISTER NOW
... continue reading