Nscale
Nscale is an AI / GPU Cloud company founded in 2023 and based in London, United Kingdom. It has raised $3.3B in total funding, most recently a Series C in 2026 at a $14.6B valuation.
Founded in 2023 by Josh Payne and Nathan Townsend, Nscale is a London-based AI hyperscaler spun out of Arkon Energy, a renewably powered data-center business. It vertically integrates power, data centers, and GPU infrastructure to deliver high-performance AI cloud services for training and inference at scale. After a $155M Series A in December 2024, it raised a $1.1bn Series B in September 2025 — described as the largest in European history — led by Aker ASA with participation from Nvidia, Dell, and Nokia, and then a $2bn Series C in March 2026 led by Aker ASA and 8090 Industries at a $14.6bn valuation, with Nvidia, Dell, Citadel, Jane Street, Lenovo, Nokia and Point72 participating, as demand for AI training capacity surged.
By owning the stack from power to GPUs, Nscale is positioning as a European-rooted training cloud for frontier AI labs and hyperscalers.
nscale.com ↗·AI / GPU Cloud·
United Kingdom·private 
