Nscale Revenue, Valuation, Funding & Investors

Nscale is valued at $15B as of March 2026.

Last Nscale valuation

$15B

Series C · Mar 2026

Last Nscale funding round

Undisclosed stage

Amount undisclosed · Jun 2026

Nscale revenue

$33M

Series C · Mar 2026

Key investors in Nscale

Nscale Overview

About Nscale

Nscale is an AI infrastructure company and global hyperscaler that builds, owns, and operates data centers and high-density GPU clusters. The neocloud startup integrates everything from renewable power generation to hardware and orchestration software to support AI training, fine-tuning, and inference workloads for enterprises and governments. Unlike traditional cloud providers, Nscale builds and operates its own data centers in regions with abundant, low-cost renewable energy (e.g., hydropower in Norway, renewables in Texas). In West Virginia, the company even owns behind-the-meter natural gas power plants to insulate operations from local grid fluctuations.


Founded

2024

HQ

United KingdomLondon

Website

nscale.com

Status

Privately held

Customer focus

B2B

Revenue model

Usage-based, Subscription

Revenue

$33M (Mar 2026)

Valuation

$15B (Mar 2026)

Nscale Valuation

Nscale is currently valued at $15B, based on its Series C in March 2026.

The $2B round was led by 8090 Industries and Aker, with participation from NVIDIA, Astra Capital Management, Linden Advisors, Point72, Jane Street and 4 other investors.

Nscale's valuation has grown 4.7x from $3.1B at its Series B in September 2025 to $15B in March 2026, across 2 priced rounds.

Nscale valuation by funding round

Revenue multiple
Nscale valuation by funding round
DateStageValuationRevenue Multiple
Mar 2026Series C$15B442.4x
Sep 2025Series B$3.1B-

Nscale Revenue

Nscale's latest recorded revenue is $33M, as of its Series C in March 2026.

Revenue moved from $33M in October 2025 to $33M in March 2026.

Nscale revenue by funding round

Nscale revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Mar 2026$33M$15B442.4xSeries C
Oct 2025$33M--Series C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Nscale Funding History

Nscale has raised a total of $3.7B across 6 funding rounds.

Nscale's first fundraising round was a $30M seed round in December 2023. The most recent completed round was a undisclosed-stage round in June 2026.

Nscale funding rounds

Nscale funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2026Undisclosed stagePittco Management (lead); Epping Forest Venture Partners---
Mar 2026Series C8090 Industries (lead); Aker (lead); NVIDIA; Astra Capital Management; Linden Advisors; Point72; Jane Street; Nokia; Dell; Lenovo; Citadel$2B$15BOn March 8, 2026, British AI cloud and data center startup Nscale announced a $2 billion Series C funding round. This historic infusion values the company at $14.6 billion and marks one of the largest capital raises in European tech history. Capital is directed toward scaling global AI data centers, high-performance compute (GPU) clusters, networking, and orchestration software.
Oct 2025Series CNVIDIA; Blue Owl Capital Inc.; Fidelity; Sandton Capital Partners; Point72; G Squared; T.Capital; Nokia; Dell; Aker$433M-Nscale is a UK-based AI-native hyperscaler providing vertically integrated compute, networking, storage, managed software, and AI services in owned and colocated data centers. Founded in 2024 after pivoting from cryptomining infrastructure via Arkon Energy, it operates its first data center in Glomfjord, Norway, powered by hydroelectric energy and natural cooling. The company partners with major players like OpenAI and Microsoft on projects including Stargate Norway and Stargate UK, and plans £2.5bn ($3bn) investment in a UK data center in Loughton, Essex, for a Microsoft supercomputer. On October 1, 2025, Nscale closed a $433 million pre-Series C SAFE financing round, just days after its record $1.1 billion Series B, bringing total funding raised to over $1.7 billion. Investors in the SAFE round included Blue Owl Managed Funds, Dell, NVIDIA, Nokia, and other existing Series B and new investors matching the queried list such as Aker, Fidelity, G Squared, Point72, Sandton Capital Partners, and T.Capital. The SAFE structure provides capital in exchange for future equity, underscoring strong investor confidence in Nscale's vision for sovereign, scalable AI infrastructure. Nscale positions itself as a key local AI infrastructure partner for OpenAI, Microsoft, and Nvidia, leveraging a track record of over 50 data centers and one of the world's largest GPU pipelines. Leadership emphasizes execution in supercomputing and multi-billion-dollar infrastructure growth.
Sep 2025Series BAker (lead); NVIDIA; Blue Owl Capital Inc.; Fidelity; Sandton Capital Partners; Point72; G Squared; T.Capital; Nokia; Dell$1.1B$3.1BNscale is a UK-based AI infrastructure hyperscaler founded in 2024, providing vertically integrated AI infrastructure including GPU compute, networking, data services, and orchestration software. In September 2025, Nscale raised $1.1 billion in its Series B round, led by Aker ASA with participation from Sandton Capital, Blue Owl Managed Funds, Dell, Fidelity Management & Research Company, G Squared, Nokia, NVIDIA, Point72, and T.Capital, valuing the company at $3.1 billion. The funding was deployed to accelerate deployment of large-scale AI infrastructure across Europe, North America, and the Middle East, including projects like Stargate UK and Stargate Norway partnerships with Microsoft, OpenAI, and NVIDIA. By March 2026, Nscale had raised over $4.5 billion across multiple rounds in less than 18 months, demonstrating exceptional velocity in capital raising within the booming AI infrastructure sector.
Dec 2024Series ASandton Capital Partners (lead); Florence Capital; Mei Z.; Bluesky Capital; Kestrel 0x1$153M--
Dec 2023Seed-$30M--

Who has invested in Nscale?

22 investors have backed Nscale across its funding rounds, including NVIDIA, Nokia, Point72, Dell, Sandton Capital Partners and Aker.

Lead investors include Pittco Management, 8090 Industries, Aker and Sandton Capital Partners.


Nscale Investors

Investors in Nscale by funding rounds participated
InvestorHQRoundsRoleFirst check
NVIDIAUnited StatesSan Jose, CA3ParticipantSep 2025
Sandton Capital PartnersUnited StatesNew York City, NY3LeadDec 2024
Point72United StatesStamford, CT3ParticipantSep 2025
NokiaFinlandFinland3ParticipantSep 2025
DellUnited StatesAustin, TX3ParticipantSep 2025
AkerNorwayNorway3LeadSep 2025
Blue Owl Capital Inc.United StatesNew York City, NY2ParticipantSep 2025
FidelityUnited StatesBoston, MA2ParticipantSep 2025
G SquaredUnited StatesChicago, IL2ParticipantSep 2025
T.CapitalGermanyHamburg2ParticipantSep 2025
Astra Capital ManagementUnited StatesWashington, DC1ParticipantMar 2026
Florence CapitalIndiaDelhi1ParticipantDec 2024
Mei Z.United StatesUnited States1ParticipantDec 2024

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Acquisitions by Nscale

Nscale has acquired 3 companies to date.

Last acquisition by Nscale was on July 29th 2026. Nscale acquired Anyscale for $1.6B.


Latest Acquisitions by Nscale

Anyscale
American Intelligence & Power
Kontena
Description
Anyscale is a San Francisco-headquartered company founded by the creators of the Ray distributed computing framework. The platform scales AI and machine learning workloads from laptops to cloud clusters, supporting end-to-end development and production deployment. Anyscale serves data science teams building applications with libraries like PyTorch and TensorFlow. Backers include Andreessen Horowitz, NEA, and Addition.
American Intelligence & Power constructs integrated power and compute platforms for hyperscale and enterprise AI data centers. The firm develops multi-gigawatt power generation and distribution for AI loads. Its Monarch Compute Campus operates as a certified microgrid with private power sales.
Kontena is a provider of high-density data centers and high-performance computing systems optimized for AI workloads and scientific simulations. Warsaw-based, the company designs modular facilities with liquid cooling supporting up to 100 kW per rack. Established in 2021, Kontena operates colocation services in Poland and partners with NVIDIA for GPU clusters serving research institutions in Europe.
HQ CountryUnited StatesUnited StatesBelgium
HQ City
San Francisco, CA
-
Antwerp
Deal Date29 Jul 202615 Mar 202621 Jul 2024
Valuation$1.6Bundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Investments by Nscale

Nscale has invested in 1 company to date.

Latest investment by Nscale was on September 3rd 2026. Nscale invested in Figure in their Strategic investment round.


Latest Investments by Nscale

Figure
Description
Figure is a robotics company developing general-purpose humanoid robots for industrial applications in manufacturing, logistics, warehousing, and retail. Sunnyvale-based and founded in 2022, it deploys the Figure 01 model equipped with AI-driven vision, manipulation, and mobility capabilities powered by OpenAI's large language models for natural interaction and task learning. The robots handle repetitive and hazardous tasks autonomously, integrating with existing warehouse management systems from partners like BMW for automotive production lines. Figure operates pilot programs in BMW's South Carolina facility to validate scalability across labor-intensive sectors.
HQ CountryUnited States
HQ City
San Jose, CA
Deal Date3 Sep 2026
RoundStrategic investment
Raisedundisclosed
Investors-
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Nscale Competitors

Nscale competitors include listed companies like Nebius Group and Core Scientific, and private ones like Crusoe Energy Systems, Baseten, Fluidstack and SambaNova.

Public and private companies comparable to Nscale
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Crusoe Energy SystemsUnited StatesDenver, COPrivate$276M-$30B-
Nebius GroupNetherlandsNetherlandsPublicly listed$530M$512M$59B24.2x
BasetenUnited StatesSan Francisco, CAPrivate$600M-$13B21.7x
FluidstackUnited KingdomLondonPrivate$180M-$18B-
SambaNovaUnited StatesSan Francisco, CAPrivate$100M-$11B-
Core ScientificUnited StatesUnited StatesPublicly listed$319M($211M)$5.5B13.9x

Nscale Public Comps

Nscale is still privately-owned, but its public comps include Tempus AI, CGI, Range Intelligent, IEIT Systems, Akamai, iFlytek, DigitalOcean, Iluvatar CoreX, IonQ and GoDaddy.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Tempus AI$1.3B($131M)12.0x10.1x(116.0x)346.0x
CGI$11B$2B1.5x1.5x8.6x7.3x
Range Intelligent$846M$803M20.7x16.0x21.9x19.7x
IEIT Systems$25B$545M0.7x0.6x30.2x22.4x
Akamai$4.2B$1.3B5.1x4.8x16.8x12.1x
iFlytek$4B$465M3.7x3.4x31.7x40.6x
DigitalOcean$901M$343M18.2x14.9x47.9x37.7x
Iluvatar CoreX$154M($124M)83.3x35.7x(103.4x)(141.7x)

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Common questions about Nscale

When was Nscale founded?Nscale was founded in 2024.
Where is Nscale headquartered?Nscale is headquartered in London, United Kingdom.
Is Nscale publicly listed?No, Nscale is a private, VC-backed company.
What is Nscale's valuation?Nscale was last valued at $15B in its Series C in March 2026.
How much funding has Nscale raised?Nscale has raised $3.7B across 6 funding rounds.
What was Nscale's last funding round?Nscale's last funding round was a undisclosed-stage round in June 2026, led by Pittco Management.
Who are Nscale's investors?Nscale's investors include NVIDIA, Sandton Capital Partners, Point72, Nokia, Dell, Aker, Blue Owl Capital Inc., Fidelity, G Squared, T.Capital and 12 others.
What is Nscale's revenue?Nscale's latest recorded revenue is $33M (March 2026).
Which companies are comparable to Nscale?Companies comparable to Nscale include Crusoe Energy Systems, Nebius Group, Baseten, Fluidstack, SambaNova and Core Scientific.
How many companies has Nscale acquired?Nscale has acquired 3 companies, including Anyscale, American Intelligence & Power and Kontena.
What was the largest acquisition by Nscale?The $1.6B acquisition of Anyscale in July 2026 is the largest acquisition Nscale has made to date.
How many companies has Nscale invested in?Nscale has invested in 1 company, including Figure.
What was Nscale's last investment?In September 2026, Nscale invested in Figure's strategic investment round.

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