Nscale, an artificial intelligence infrastructure company backed by Nvidia, has been valued at $14.6 billion after raising $2 billion in a Series C funding round, the British firm announced on Monday.
The funding round was led by Norway-based investment group Aker and 8090 Industries. Other participants in the round included Citadel, Dell Technologies and Jane Street, alongside existing investor Nvidia.
As part of the announcement, the company said several high-profile industry figures will join its board, including former Meta executives Nick Clegg and Sheryl Sandberg, as well as former Yahoo president Susan Decker.
Founded in 2024, Nscale develops large-scale artificial intelligence computing infrastructure. The company owns and operates its own data centres, graphics processing units (GPUs) and software stack designed to provide GPU-powered compute for AI workloads.
The latest funding will be used to expand Nscale’s data centre capacity as demand for AI computing continues to surge. The company currently provides infrastructure services to customers including Microsoft and OpenAI.
The funding round also comes as Nscale prepares for a potential initial public offering. Earlier this year, the company appointed Goldman Sachs and JPMorgan as underwriters for a possible stock market listing, according to sources familiar with the matter.
However, the timeline for the potential IPO has not yet been finalised. The company has not disclosed when it may move forward with the listing.
