Nscale, a UK-based artificial intelligence infrastructure hyperscaler, has raised $2 billion in a Series C round that values the company at $14.6 billion, with the funds earmarked for capital spend on GPUs and other key pieces of kit.
The financing was led by Aker ASA and 8090 Industries and supported by Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, NVIDIA, and Point72. Goldman Sachs & Co. LLC and J.P. Morgan acted as joint placement agents, and the raise includes a Pre-Series C SAFE.
The company said the capital will accelerate global deployments of vertically integrated AI infrastructure - from GPU compute and networking to data services and orchestration software - across Europe, North America, and Asia, while expanding engineering and operations teams.
"This is the fourth industrial revolution; the world is changing at a rapid pace," said Josh Payne, CEO and Founder of Nscale.
"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."
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Nscale also appointed Sheryl Sandberg, Susan Decker, and Nick Clegg to its board of directors, citing experience in scaling technology companies, corporate governance, and global policy.
The company, meanwhile, has also agreed to fold a joint venture with Aker, Aker Nscale, fully into Nscale. And, Aker will remain a leading shareholder in the company, with the stakeholder's representative Øyvind Eriksen being retained on the board.
The recap
Nscale valued at $14.6 billion in Series C.
Nick Clegg, Sheryl Sandberg, Susan Decker join board.
Aker Nscale joint venture fully folds into Nscale operations.