Nscale, a British AI infrastructure company backed by Nvidia, has raised $2 billion in funding at a valuation of $14.6 billion. This makes it one of Europe's latest decacorns alongside Helsing and Mistral AI.
Key Takeaways
Nscale, an AI infrastructure company backed by Nvidia, has raised $2 billion in funding at a valuation of $14.6 billion. The company announced the addition of Sheryl Sandberg, Nick Clegg, and Susan Decker to its board. Nscale plans to accelerate its AI infrastructure development globally and is considering an IPO.
- Nscale raises $2B in Series C funding round
- Company valued at $14.6 billion
- Sheryl Sandberg, Nick Clegg, and Susan Decker join the board
- Plans for global expansion of AI infrastructure
- Potential IPO on the horizon
The Series C round was led by Aker ASA and 8090 Industries, with participation from Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, and Point72. The raise included a $433 million pre-Series C SAFE round in October.
Nscale has also announced the addition of Sheryl Sandberg, former Meta COO; Nick Clegg, former UK deputy prime minister and Meta executive; and Susan Decker, former Yahoo president, to its board. The company plans to use the fresh capital to accelerate the development of its vertically integrated AI infrastructure across Europe, North America, and Asia.
According to sources with firsthand knowledge, the latest valuation is more than double the confidential valuation achieved with the Series B round in September. Nscale operates data centers in the UK, US, Norway, Portugal, and Iceland and has inked deals with major tech companies like Microsoft and OpenAI.
The company is considering an initial public offering (IPO) as early as this year to generate more capital. The AI boom is driving what Nscale's CEO Josh Paynet describes as 'the largest infrastructure buildout in human history.'
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