Nscale, backed by Nvidia, has raised $14.6 billion in a new fundraising round

Nscale, an artificial intelligence infrastructure firm backed by Nvidia, has reached a $14.6 billion valuation after raising $2 billion in a Series C funding round. The investment round was led by Norway-based industrial group Aker ASA and 8090 Industries, with participation from investors including Citadel, Dell Technologies and Jane Street.

The company also announced that prominent technology leaders will join its board, including former Meta Platforms executives Nick Clegg and Sheryl Sandberg, along with former Yahoo president Susan Decker.

The funding 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, although the timeline for the IPO has not yet been finalised.

Founded in 2024, Nscale focuses on building large-scale AI computing infrastructure. The company owns and operates its own data centres, graphics processing units (GPUs), and software stack designed to deliver high-performance AI computing power.

The newly raised capital will be used primarily to expand its data-centre capacity, as demand for AI computing continues to surge from major technology companies such as Microsoft and OpenAI.