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British AI infrastructure operator Nscale announced Thursday it has raised a staggering $1.1 billion in Series B Funding, marking the largest such round in European history. The cash infusion—led by Norwegian industrial powerhouse Aker ASA with support from existing giants including Nvidia, Nokia, and Dell—propels Nscale from startup status into the big leagues of AI infrastructure.

The deal underscores the global rush to secure the computational horsepower needed for artificial intelligence, as demand for advanced data centers skyrockets.

Global Investors Rally Behind Nscale

Nscale’s investor roster reads like a who’s who of technology and industrial heavyweights. Nvidia, whose chips fuel much of the AI revolution, doubled down on its bet. Finnish telecom giant Nokia and U.S. tech stalwart Dell also increased their stakes.

Øyvind Eriksen, CEO of Aker, framed the investment as more than just capital: “We are backing infrastructure that’s sovereign, scalable and purpose-built to accelerate transformation. The scale and quality of this Series B round are a testament to Nscale’s vision and momentum.”

Goldman Sachs served as placement agent, while Milbank LLP advised Nscale, with partners across New York and London leading the high-stakes transaction.

Building the Backbone of AI

Nscale operates massive-scale data centers that provide the network backbone and storage capacity for AI applications. Its facilities, powered by low-cost renewable energy, are tailored to supply scarce GPUs—vital electronic circuits driving AI workloads.

Josh Payne, Nscale’s chief executive, said the raise “allows us to deliver rare compute capacity to our customers and fast-track the build-out of secure, compliant, and energy-efficient AI infrastructure. Europe needs a hyperscaler, and Nscale is rising to the challenge.”

The funding will fuel expansion across Europe, North America, and the Middle East while scaling its engineering and operations workforce.

Strategic Partnerships and National Significance

The announcement builds on a string of recent partnerships. On Sept. 16, Nscale unveiled plans with Microsoft to develop an AI supercomputer in Britain. It also teamed up with Nvidia and OpenAI to create a U.K.-based infrastructure platform to deploy ChatGPT-related technologies.

Britain’s AI minister, Kanishka Narayan, hailed the raise as a boost to national competitiveness: “Nscale shows how our country can be at the cutting edge of AI. By attracting global expertise and investment, it is building the essential infrastructure for the U.K. to compete internationally.”

The funding comes in the wake of the U.K.-U.S. Technology Partnership agreement signed earlier this month by Prime Minister Keir Starmer and President Donald Trump, underscoring AI’s role at the heart of transatlantic cooperation.