LONDON, UK, May 18, 2026 – Nscale secured an additional $790 million in financing for its AI data center campus in Narvik, Norway, a project the company describes as the country’s largest AI infrastructure investment.
ABN AMRO, DNB, Eksfin, Nordea and SEB committed the financing. The package also includes a $790 million uncommitted accordion feature that could fund a further 115MW expansion at the Narvik AI data center.
The financing follows a recently signed agreement connected to the Narvik campus. It also adds to Nscale’s recent capital raises, including a $2 billion Series C round in March 2026 led by Aker ASA and 8090 Industries, and a $1.4 billion delayed draw term loan in February 2026.
ABN AMRO Bank N.V., DNB Bank ASA and Nordea Bank Abp, filial i Norge, are acting as bookrunners. Export Finance Norway (Eksportfinansiering Norge) and Skandinaviska Enskilda Banken AB (publ) are serving as mandated lead arrangers.
Josh Payne, founder and CEO of Nscale said, “Together, these developments position Nscale at the forefront of global AI infrastructure, delivering scalable, high-performance capacity to meet rapidly growing demand for our services.”
Source: Nscale
About Nscale
Nscale Ltd., founded in 2024, is a UK-based technology company specializing in AI-optimized cloud infrastructure and high-performance computing (HPC) solutions. Headquartered in London, with data centers in Glomfjord, Norway, Nscale offers a vertically integrated platform encompassing public and private cloud services, serverless inference, GPU clusters, and AI development tools. Its infrastructure is powered by renewable energy, emphasizing sustainability. Nscale serves various industries, including education, finance, government, healthcare, legal, manufacturing, software, and telecommunications, providing scalable solutions for AI model training, inference, and development. In January 2025, the company secured $155 million in Series A funding led by Sandton Capital Partners, supporting its expansion across Europe and North America.