United Kingdom-based artificial intelligence data centre company Nscale has raised US$2 billion at a $14.6 billion valuation in a new funding round, and has added former Meta and Yahoo executives to its board.
The round was led by Aker ASA and 8090 Industries, with companies including Nvidia, Citadel, Lenovo, and Nokia investing.
“Over the next 5 years, Artificial Intelligence will be integrated into every industry, every product, and every job,” said Nscale CEO Josh Payne when announcing the funding round. “This is leading to the largest infrastructure buildout in human history.”
“Nscale is leading this buildout. We are building this foundation that the market sits on, the engine of superintelligence.”
The company has also added former Meta COO Sheryl Sandberg, former Yahoo President Susan Decker, and former U.K. Deputy Prime Minister and Meta Global Affairs President Nick Clegg to its board, it said.
Nscale previously raised $1.1 billion in a September funding round. While it did not disclose its valuation at the time, its latest $14.6 billion value is more than twice its valuation in September, sources told CNBC.
In September, Nscale agreed to partner with Nvidia and OpenAI to establish the Stargate UK AI infrastructure initiative, part of the UK’s planned AI Growth Zone. The companies did not announce the deal’s financial terms, but the UK government said the AI Growth Zone would bring in around UK£30 billion in private investment.
Nscale, Aker, and OpenAI also said in July that they would launch a Stargate Norway project, with the goal of delivering 230 megawatts of capacity.
