TLDRs;
- London-based AI firm Nscale raised $1.1B in Series B funding, led by Aker with support from Nvidia, Nokia, and Dell.
- Funds will accelerate AI data center projects in the UK and Norway, including work with OpenAI’s Stargate initiative.
- Norway facility to host 100,000 GPUs by 2027, while the UK site launches in 2026 with 8,000 GPUs.
- Nvidia strengthens UK AI presence, investing $2.7B across startups including a $650M equity stake in Nscale.
British AI infrastructure company Nscale has raised $1.1 billion in Series B funding, marking one of the largest capital injections into Europe’s fast-growing AI ecosystem.
The London-based firm, spun out from Australian crypto mining company Arkon Energy in 2023, is now positioning itself at the heart of Europe’s artificial intelligence race.
The round was led by Aker ASA, the Norwegian industrial investment group, and included strategic backing from Nvidia, Nokia, and Dell. The move underscores how critical large-scale computing capacity has become as demand surges from leading AI developers such as OpenAI, Microsoft, and Google.
Building data centers for the AI era
Nscale specializes in building AI-optimized data centers or facilities purpose-built to handle the intense computational demands of training and running generative AI models. With this new capital, the company plans to accelerate construction of its projects across the United Kingdom and Norway.
One of the central initiatives is its collaboration with OpenAI on Stargate, a mega-scale infrastructure project designed to deliver unprecedented computing power for AI research and deployment. Stargate is widely viewed as a cornerstone in Europe’s attempt to establish itself as a global hub for artificial intelligence.
The Norwegian project alone represents a $1 billion investment, with a plan to install 100,000 Nvidia GPUs by 2027. Meanwhile, Nscale’s UK site is expected to come online in early 2026 with 8,000 GPUs, and could later scale to 31,000 GPUs depending on demand.
Britain’s AI ambitions take shape
For the UK, Nscale’s success represents more than just a funding milestone, it signals the country’s determination to become a leader in AI infrastructure. Prime Ministerial statements in recent months have highlighted AI as a strategic priority, with billions in public and private investments funneled into the sector.
Josh Payne, Nscale’s co-founder and CEO, emphasized the importance of this latest financing round.
“We are creating one of the largest global infrastructure platforms of its kind, purpose-built to meet surging demand and unlock breakthroughs at unprecedented scale,” Payne said.
He added that the company’s mission is not just about capacity, but also about delivering secure, compliant, and energy-efficient AI infrastructure. This is crucial as Europe balances its ambitions for AI leadership with growing concerns around energy consumption and climate impact.
Nvidia deepens UK footprint
Nscale’s momentum also comes amid a broader investment push from Nvidia in Britain. Earlier this month, the US chipmaker unveiled plans to allocate $2.7 billion to UK AI ventures, including a $650 million equity stake in Nscale itself.
This strategic investment strengthens Nvidia’s role in Europe’s AI infrastructure landscape while ensuring demand for its latest GPU technology remains robust. It also aligns Nvidia more closely with OpenAI and other AI pioneers who require reliable, large-scale computing power.
As Europe competes with the US and China in the AI race, partnerships like Nscale’s Stargate project could help define the continent’s role in the next era of technological advancement. With billions of dollars now flowing into infrastructure, the stage is set for an AI supercomputing boom across Europe.
