AI hyperscaler Nscale secures $155 million in Series A Funding

Today, Nscale, an AI hyperscaler, has announced that it has raised $155 million in its Series A funding round led by Sandton Capital Partners to fuel its ambitious growth plans across Europe and North America. This is one of the largest Series A funding rounds in the UK.

Nscale is a fully vertically integrated AI cloud provider - meaning it owns its data centres, the infrastructure engineered for GPUs and the software stack it provides to customers.

The founder and CEO, Josh Payne, has significant entrepreneurial experience in capital markets, crypto mining, and M&A in the renewable energy sector. He is also the co-founder and COO of the $357 million NASDAQ-listed battery metals SPAC, Battery Future Acquisition Corp.

This new funding will be used to accelerate the deployment of large-scale GPU clusters for AI training, fine-tuning, and inferencing workloads. The capital will to be used to expand its 1.3 GW pipeline of greenfield data centre sites in Ohio, Texas, UK and Norway, with 120MW planned for 2025 development.

Nscale is also launching a public cloud service in Q1 2025 that will provide developers access to purpose-built inference and training solutions in a flexible development environment. You can read the company's press release for full details.