Nscale Raises $2 Billion in Series C — the Largest in European History

Sheryl Sandberg, Susan Decker, and Nick Clegg join Nscale’s Board of Directors

‍(London) - March 9, 2026 — U.K.- based AI infrastructure hyperscaler Nscale today announced its $2 billion in Series C funding, led by Aker ASA and 8090 Industries. This round values Nscale at $14.6 billion. The funding round was supported by Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, NVIDIA, and Point72. This new raise will further accelerate Nscale’s global development of vertically integrated AI infrastructure — from GPU compute and networking to data services and orchestration software — across Europe, North America, and Asia.

‍AI is reshaping industries, economies and national strategies, and accelerated computing platforms are the engine driving that shift. The constraint on market scaling is not demand, but the ability to deploy capacity and run it reliably in production. Nscale is purpose-built to accelerate AI deployments. This capital deepens Nscale’s infrastructure footprint, expands its engineering and operations teams, and strengthens the platform, enabling Nscale to continue to deliver real, production-grade AI deployments at massive scale.

“This is the fourth industrial revolution; the world is changing at a rapid pace. Over the next 5 years, Artificial Intelligence will be integrated into every industry, every product, and every job. Accelerating drug discovery, extending human life, autonomizing travel and robotics, lifting productivity, and driving massive growth. This is leading to the largest infrastructure buildout in human history,” said Josh Payne, CEO and Founder of Nscale. “Nscale is leading this buildout. We are building this foundation that the market sits on, the engine of superintelligence.”

Strengthening Nscale’s Board

Nscale also today welcomes three new Directors. Sheryl Sandberg, Susan Decker, and Nick Clegg will join the Nscale Board, bringing substantial global depth across technology, policy, operations, and governance to an already world-class collection of business leaders.

‍Sheryl Sandberg — Sandberg is currently the co-founder of Sandberg Bernthal Venture Partners, which deploys private capital to fund innovation across consumer, enterprise, climate and healthcare technology. As former Chief Operating Officer of Meta and an early executive at Google, Sandberg brings unmatched experience in scaling the world’s most influential technology companies, as well as deep expertise in operations, growth strategy, and building global organizations.

Susan Decker — Decker is the CEO and co-founder of Raftr, a Community Experience platform for universities. She is a former President of Yahoo, Inc. and is currently a Board member at Costco Wholesale Corporation, Berkshire Hathaway, Vail Resorts, Chime, Vox Media, and Automattic. Decker brings sharp financial acumen, governance expertise, and strategic leadership developed across decades at the forefront of global media and technology companies.

Nick Clegg — A current General Partner at Hiro Capital, Clegg focuses on fostering the growth of leading spatial computing technologies within Europe. He is both a former UK Deputy Prime Minister and former President, Global Affairs at Meta. Prior to being elected to the UK Parliament in 2005, Clegg served five years in the European Parliament. Clegg brings deep expertise at the intersection of technology, policy, and global affairs and has most recently been at the center of the most consequential regulatory and governance conversations shaping the future of AI.

Sandberg, Decker, and Clegg join Nscale’s existing Board of Directors, which includes Josh Payne, Rael Nurick, Jacob Leschly, and Øyvind Eriksen.

Streamlining Execution in Norway

Alongside this Series C funding and its new Directors, Nscale has reached an agreement with Aker to roll the Aker Nscale joint venture — announced in July 2025 — fully into Nscale. Going forward, Aker will remain a leading shareholder in Nscale with its CEO Øyvind Eriksen continuing to serve on the Nscale Board.

This decision consolidates delivery and governance under one entity, while ensuring all existing projects under the joint venture continue and remain fully operational as part of Nscale. This ongoing partnership has been foundational to Nscale’s growth and demonstrates its continued commitment to playing a positive, long-term role in the communities where it operates. Nscale’s firm pledge to waste heat reuse, local skills development, and investment in regional infrastructure remains unchanged.

Øyvind Eriksen, President and CEO of Aker ASA said, “This step strengthens execution by putting delivery and governance under one roof, while keeping continuity for the people and projects already underway. We have full confidence in Nscale’s ability to deliver responsibly in Norway over the long term, and we believe this positions the work for faster progress and durable value creation.”

Rayyan Islam, the Co-founder and General Partner of 8090 Industries said, “We are living through a new era defined by AI, and the limiting factor is infrastructure. Compute, energy, and industrial-scale deployment capacity will determine which nations and companies lead the next generation of technological and economic progress.

Nscale has built a platform uniquely capable of solving this challenge by vertically integrating the critical layers of AI infrastructure — from energy and data centers to compute and orchestration.

At 8090 Industries, we invest in the systems that enable entire industries to scale and are proud to partner with Josh and the Nscale team as they build the foundational backbone for the global AI economy."

‍Goldman Sachs & Co. LLC and J.P. Morgan acted as joint placement agents for Nscale in connection with this capital raise which is inclusive of the Pre-Series C SAFE.

About Nscale

Nscale is the global hyperscaler engineered for AI infrastructure. Through vertically integrated AI solutions and modular, first-principles data center design across Europe, North America, and beyond, Nscale delivers the compute foundation for enterprise AI training, fine-tuning, and inference at scale.‍