Nvidia (NVDA) has been one of the biggest winners of the AI boom, with its stock soaring as demand for its chips skyrocketed.
And when Nvidia throws its weight behind a company, investors tend to pay attention, hoping it could be the next one to surge.
The logic is simple: Nvidia’s backing is often seen as a stamp of credibility that can drive both funding and market momentum.
For example, Nvidia first invested in CoreWeave (CRWV) in April 2023 and remains a supporter and partner of the cloud provider. CoreWeave’s stock price has tripled since it went public in March 2025.
Now, Nvidia has a new goal, aiming at Nscale, a British AI data center firm.
Image source: SOPA Images/Getty Images
Nscale secures $1.1 billion funding round, biggest ever in Europe
Nscale recently raised $1.1 billion in a Series B funding round, according to a company statement on Sept. 25.
The investment, which the company said was the largest Series B in UK and European history, was led by Aker, the Norwegian industrial investment company, with participation from tech firms including Nvidia, Nokia and Dell.
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Aker contributed $285 million, taking a stake of 9.3% in Nscale. The company noted that its ownership could climb to 12.2% in the future.
Nscale said the new funding will be used to deploy large-scale AI infrastructure across Europe, North America, and the Middle East, enabling the rollout of the company’s “AI factory” data centres and the expansion of its vertically integrated AI cloud platform.
“We are creating one of the largest global [AI infrastructure] platforms of its kind – purpose-built to meet surging demand and unlock breakthroughs at unprecedented scale,” said Josh Payne, Nscale’s CEO.
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“This allows Nscale to provide our customers access to scarce, and highly sought after, compute capacity and rapidly accelerate the build-out of secure, compliant and energy-efficient AI infrastructure,” Payne added.
Nscale remains a privately held company and is not yet publicly traded on any stock exchange.
What does Nscale do?
Nscale was spun out in 2023 from Arkon Energy, an Australian cryptocurrency mining firm. The London-based tech firm is working with OpenAI in the U.K. and Norway to build new data centers as part of the ChatGPT maker’s Stargate investment project, CNBC reported.
Nscale plans to invest $1 billion in its Norway project, aiming to install 100,000 Nvidia GPUs at the site by 2027. In the U.K., the company will start with 8,000 GPUs early next year, with room to expand to about 31,000 units.
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The company is partnering with Nokia to combine the Finnish telecom-equipment provider’s IP and optical networking technologies with Nscale’s infrastructure platform.
“Demand for the build-out of secure, scalable AI infrastructure in Europe and across the world continues to accelerate,” Nokia CEO Justin Hotard said.
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