| Nscale | |
|---|---|
 | |
| Type | Private |
| Industry | AI Infrastructure |
| Founded | May 2024 in London, United Kingdom |
| Founder | Josh Payne |
| Headquarters | London, United Kingdom |
| Products | AI Services, AI Private Cloud, AI Factories |
| Revenue | 33,000,000 United States dollar (2025)  |
Number of employees | ~1,000 |
| Website | https://www.nscale.com/ |
Nscale is a British technology company that operates data centres and GPU cloud infrastructure. Headquartered in London, the company was founded in 2024 by Josh Payne.
Nscale spun out from Arkon Energy, a Melbourne, Australia-based infrastructure business focused first on securing power and building in ideal AI compute location, including those with abundant renewable energy sources and a provider of infrastructure for crypto mining. Arkon was based in Melbourne, and Payne is Australian. Arkon Energy wound down and Nscale acquired a data centre site in Glomfjord, Norway, which utilizes 100% renewable hydropower.
In July 2025 Nscale announced a joint venture with Aker ASA to build an AI infrastructure project in Narvik with Microsoft as the anchor customer. In September 2025, Nscale raised $1.1 billion in Series B funding, recognized as one of the largest Series B rounds in Europe, from companies including Aker, NVIDIA, Nokia, and Dell.
By October 2025, Nscale secured $433 million in a pre-Series C SAFE funding round and had expanded into Portugal, the UK, US, and Iceland.
In March 2026, Nscale raised $2 billion in its Series C funding round as former Meta COO Sheryl Sandberg, former Yahoo! president Susan Decker, and former U.K. deputy prime minister Nick Clegg joined its board of directors. The company achieved a valuation of $14.6 billion in March 2026.
As of 2026, Nscale operates data centres across multiple geographies with sites at varying stages of operation and development.
Nscale’s first operational site in Glomfjord, Norway has a 30-megawatt capacity on 100% renewable hydropower. A second site announced in July 2025 is under development at Narvik, with 230 megawatts of planned capacity and over 30,000 NVIDIA Vera Rubin GPUs being deployed for Microsoft from 2027.
Nscale operates a 15-megawatt liquid-cooled GPU cluster at Verne Global's data centre campus in Iceland, powered by 100% renewable energy.
Nscale is developing a hyperscale AI campus in Ward County, Texas, with approximately 104,000 NVIDIA GPUs planned for Microsoft from 2026. Nscale also acquired American Intelligence and Power Corporation (AIPCorp) and its Monarch Compute Campus in Mason County, West Virginia from Fidelis New Energy. The Monarch Compute Campus is a 2,250-acre site with planned power capacity of 2 gigawatts by 2028, expanding to over 8 gigawatts by 2031. Monarch operates as America's first state-certified AI microgrid, using behind-the-meter power generation.
Nscale's audited revenue was $19.1 million in 2024 and $33.0 million in 2025, with $140.6 million in the first half of 2026, according to its Form S-1; the filing also states $103.4 billion in active and contracted take-or-pay agreements.