"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."
"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.""
Nscale, a British AI infrastructure company backed by Nvidia, has achieved a $14.6 billion valuation following a $2 billion Series C funding round, making it one of Europe's latest decacorns. The company employs a vertical integration strategy spanning energy, data centers, compute, and orchestration software. The funding round, supported by Goldman Sachs and JPMorgan, includes a $433 million pre-Series C SAFE from Blue Owl, Dell, Nvidia, and Nokia. CEO Josh Payne indicated potential IPO plans as early as this year. The company also announced prominent board additions including former Meta COO Sheryl Sandberg, former Yahoo president Susan Decker, and former UK deputy prime minister Nick Clegg. Scale's "Stargate Norway" project, a joint venture with Aker, aims to operate 100,000 Nvidia GPUs by end of 2026 with OpenAI as an initial customer.
Read at TechCrunch
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