Nscale Raises $2B for AI Infrastructure Expansion With Nvidia, Jane Street Backing
U.K.-based Nscale raised $2 billion in a Series C funding round that values the company at $14.6 billion, extending the rise of the AI infrastructure firm spun out of Bitcoin mining company Arkon Energy.
Nscale announced the fundraising on Monday, a move underscoring the rapid influx of capital into companies building large-scale computing capacity for AI. The London-based company said the round was led by Norwegian industrial group Aker ASA and 8090 Industries, with participation from Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, Nvidia and Point72.
The new funding will support Nscale’s expansion of AI infrastructure across Europe, North America and Asia, including investments in GPU computing clusters, networking systems and data platforms designed to run large-scale artificial intelligence workloads.
The company also announced that former Meta chief operating officer Sheryl Sandberg, former Yahoo president Susan Decker and former U.K. deputy prime minister Nick Clegg will join its board of directors.
Nscale’s roots trace back to the bitcoin mining industry. The company was spun out of crypto infrastructure operator Arkon Energy in 2024, part of a broader wave of firms repurposing expertise developed in power-intensive bitcoin mining toward the fast-growing market for AI compute.
Arkon Energy built and operated large-scale bitcoin mining facilities, focusing on energy procurement and high-density compute operations.
Nscale has since repositioned itself as a vertically integrated AI infrastructure platform, combining GPU compute, networking, data services and orchestration software aimed at supporting production-grade AI deployments.
Alongside the fundraising, Nscale said it has agreed with Aker to fold the previously announced Aker Nscale joint venture into the parent company. The joint venture, created in 2025 to develop AI infrastructure projects in Norway, will now be consolidated under Nscale, while Aker will remain a major shareholder. Aker chief executive Øyvind Eriksen will continue to serve on Nscale’s board.
The latest capital raise highlights the growing investor appetite for companies building the physical infrastructure behind artificial intelligence. As demand for compute surges, industry executives increasingly say the constraint on AI expansion is not software development but the availability of power, data center capacity and specialized hardware such as GPUs.
