UK-based AI infrastructure company Nscale has secured $2 billion in Series C funding, valuing the business at $14.6 billion.
The round was led by Aker ASA and 8090 Industries, with backing from a heavyweight roster of investors including Citadel, Dell, Jane Street, Lenovo, Nokia, NVIDIA, and Point72.
Nscale, which builds vertically integrated AI infrastructure spanning GPU compute, networking, data services, and orchestration software, said the capital will be used to deepen its infrastructure footprint across Europe, North America, and Asia, while expanding its engineering and operations teams.
CEO and founder Josh Payne described the investment as part of “the largest infrastructure buildout in human history,” arguing that AI will be embedded in every industry and product within five years.
“This is the fourth industrial revolution; the world is changing at a rapid pace.” Josh Payne said.
Alongside the raise, Nscale announced three high-profile board appointments: former Meta COO Sheryl Sandberg, former Yahoo president Susan Decker, and ex-UK Deputy Prime Minister Nick Clegg, who also previously served as Meta’s head of global affairs.