Nscale, the UK-based AI data centre startup, has closed a $433 million funding round, just days after bagging a $1.1 billion funding round, as the vast investment in AI infrastructure shows no signs of abating.
Nscale, which pitches itself as a "hyperscaler engineered for AI", was named as a key local AI infrastructure partner for OpenAI, Microsoft and Nvidia, which announced significant investments into the UK AI ecosystem last week, coinciding with the visit of President Trump.
The latest $433m funding round in the less-than-two-year-old startup comes in the form of what is called a SAFE (Simple Agreement for Future Equity), where an investor gives capital in exchange for shares at a future date. The pre-series C SAFE financing came from Nvidia, Nokia, Dell, asset management firm Blue Owl, along with other existing Series B and new investors, Nscale said.
Josh Payne, CEO, founder, Nscale said: “We’re overwhelmed by the interest we’ve received. It’s incredible to see the passion and confidence we have in Nscale is matched by key investors.
“This commitment to participating in our pre-Series C SAFE, just days after the close of our Series B funding, represents a powerful endorsement of our vision to deliver sovereign, scalable infrastructure for the AI era.”
Nscale has now raised over $1.7bn in total, it is understood. The startup is providing AI infrastructure for OpenAI’s AI data centre in Norway, called Stargate Norway, and its UK equivalent, Stargate UK.
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