Nscale Gets $790M in Financing for Norway AI Buildout
Nscale, a UK-based AI infrastructure startup, has secured $790 million in debt financing to build an AI data center in Narvik, Norway. This facility was previously intended for OpenAI's Stargate Norway project. Microsoft is set to rent Nvidia chips at this new data center. Nscale's latest valuation stands at $14.6 billion following a $2 billion Series C funding round. AI
IMPACT Accelerates AI infrastructure buildout, potentially impacting compute availability and pricing for major tech players.