Nvidia-backed AI firm Nscale hits $14.6 billion valuation

British AI infrastructure company Nscale has raised $2 billion in a Series C funding round, pushing its valuation to $14.6 billion as it accelerates data centre expansion ahead of a potential IPO.

Artificial intelligence infrastructure company Nscale has secured $2 billion in fresh funding, valuing the Nvidia-backed startup at $14.6 billion. The funding round marks a significant milestone for the fast-growing British AI firm as it scales up its computing infrastructure to meet surging global demand for artificial intelligence workloads.

The Series C funding round was led by Norway-based investment firm Aker and venture capital group 8090 Industries. The round also attracted participation from several major investors, including Nvidia, Citadel, Dell Technologies and Jane Street.

The latest capital injection will be used primarily to expand Nscale’s data centre capacity and strengthen its AI computing infrastructure. The company operates its own network of data centres, graphics processing units (GPUs) and software systems designed to deliver large-scale AI compute services.

Founded in 2024, Nscale has rapidly positioned itself as a major player in the AI infrastructure space, providing GPU-powered computing resources to technology companies developing advanced AI models and applications.

Demand for AI computing power has surged in recent years as companies race to build and deploy generative AI models. Nscale’s infrastructure is reportedly being used by major clients including Microsoft and OpenAI, which require massive computing resources to train and run large AI systems.

The funding round also brings high-profile additions to the company’s leadership. Former Meta executives Nick Clegg and Sheryl Sandberg, along with former Yahoo President Susan Decker, are set to join the company’s board.

Industry observers say their experience in technology, policy and corporate governance could help guide the company through its next phase of growth.

The fundraising comes as Nscale prepares for a potential initial public offering (IPO). Earlier reports indicated that the company has hired investment banks Goldman Sachs and JPMorgan as underwriters for the planned listing.

However, the timeline for the IPO has not yet been finalized, according to sources familiar with the matter.

As global demand for AI infrastructure continues to grow, companies like Nscale are rapidly expanding their computing capacity to support the training and deployment of advanced AI systems.

With fresh funding secured and a potential IPO on the horizon, Nscale is positioning itself as a key infrastructure provider in the rapidly evolving artificial intelligence ecosystem.