UK Startup Nscale Hits $14.6B Valuation With Record $2B Funding Round
UK's Nscale Secures Whopping $2B Investment Amid AI Boom
In a move that underscores Europe's growing presence in the AI race, UK-based cloud computing startup Nscale has completed a staggering $2 billion Series C funding round, valuing the company at $14.6 billion. Industry watchers believe this could be the largest single-series investment in European tech history.
From Bitcoin Mining to AI Powerhouse
The company's journey reads like a Silicon Valley fairytale. Originally spun off from an Australian Bitcoin mining operation in 2024, Nscale has transformed itself at breakneck speed into a serious contender in global AI infrastructure. "We're seeing unprecedented demand for computing power," explains CEO Josh Payne. "Every industry from healthcare to manufacturing needs these resources."
Heavyweight Backers Join Forces
The funding round was led by Aker USA and 8090 Industries, with participation from an impressive roster including:
- Chip giant Nvidia
- Tech veterans Nokia and Lenovo
- Financial powerhouse Citadel
- Hardware leader Dell
But the money wasn't the only coup. Nscale has assembled an all-star board featuring former Meta COO Sheryl Sandberg, Meta's ex-President of Global Affairs Nick Clegg, and former Yahoo president Susan Decker. These appointments signal serious ambitions beyond just hardware provisioning.
Global Expansion Plans Take Shape
The fresh capital will accelerate Nscale's infrastructure rollout across three continents:
- Expanding existing operations in Texas and Portugal
- Building new capacity in the UK and Norway
- Establishing footholds across Asia
The company has already committed to delivering 200,000 Nvidia GB300 GPUs to Microsoft - enough computing power to train multiple generations of large language models simultaneously.
"AI adoption isn't slowing down," Payne told reporters after the funding announcement. "Over the next five years, we expect these technologies to transform every job function across every industry."
Key Points:
- Record-breaking $2B Series C values UK startup at $14.6B
- Former Bitcoin mining operation pivoted successfully to AI infrastructure
- Attracted investments from Nvidia, Dell, Citadel among others
- Added Silicon Valley heavyweights Sheryl Sandberg and Nick Clegg to board
- Committed to supplying Microsoft with 200K high-end GPUs
- Expansion planned across Europe, North America and Asia
