Nscale Secures $1.1 Billion Series B Funding to Propel UK’s Largest AI Supercomputing Project
Artificial Intelligence infrastructure innovator Nscale has successfully closed a $1.1 billion Series B funding round, marking one of the most significant capital raises in the UK and European tech sectors. This milestone follows closely on the heels of Nscale’s announcement of a strategic partnership with Microsoft to develop the UK’s largest GPU-powered supercomputer, located in Loughton, Essex.
Record-Breaking Investment Led by Aker ASA and Tech Giants
The funding round was spearheaded by Norwegian industrial investment powerhouse Aker ASA, with substantial backing from existing investors and technology leaders including Nokia and NVIDIA. This infusion of capital is set to accelerate Nscale’s ambitious plans to expand its AI infrastructure footprint across Europe, North America, and the Middle East.
From Crypto Origins to AI Infrastructure Leadership
Founded in May 2024 as a spin-off from Australian cryptocurrency mining firm Arkon Energy, Nscale has rapidly positioned itself at the forefront of AI compute infrastructure. While the majority of its leadership team operates internationally, the company is committed to establishing a robust UK presence, with a state-of-the-art data center slated to open in Loughton by late 2026.
Collaborating with Microsoft to Build a Supercomputing Powerhouse
The recent collaboration with Microsoft aims to create a cutting-edge supercomputer facility, leveraging the latest GPU technology to meet soaring demand for AI compute power. This initiative aligns with broader efforts to enhance sovereign AI capabilities in the UK and Norway, under the Stargate Norway and UK programs. Nscale’s goal is to deploy an impressive 100,000 NVIDIA GPUs by the end of 2026, underscoring its commitment to scaling AI infrastructure at an unprecedented level.
Strategic Growth and Workforce Expansion
Beyond infrastructure, the new funding will enable Nscale to significantly expand its engineering and operations teams, supporting a growing client base that spans enterprise and government sectors worldwide. CEO Josh Payne emphasized the company’s vision to build one of the globe’s largest AI platforms, designed to unlock transformative breakthroughs and meet escalating computational demands.
Supporting the UK’s Vision to Become a Global AI Leader
Nscale’s advancements have garnered recognition from the UK government, featuring prominently in the Department for Science, Innovation and Technology’s AI Opportunities Action Plan launched in January 2025. UK AI Minister Kanishka Narayan highlighted Nscale’s pivotal role in driving the nation’s ambition to become a global AI superpower. She noted that the success of homegrown companies like Nscale, combined with international investment and expertise, is critical to building the infrastructure necessary for global competitiveness, economic growth, and job creation across the UK.
Microsoft’s Commitment to UK AI Expansion
Complementing Nscale’s efforts, Microsoft has announced plans to invest $30 billion to broaden its AI infrastructure and operational capabilities within the UK, further solidifying the country’s position as a hub for advanced technology development.
