Brand

Verified 12 November 2026

Nscale

A London-headquartered AI cloud and data-centre company that builds and operates GPU infrastructure, a managed AI cloud and the power supply behind it for enterprises, governments and AI labs.

Nscale was founded in May 2024 by Josh Payne and spun out of Arkon Energy, according to Wikipedia. By the story's date of 11 November 2026 it had raised a $155 million Series A (December 2024), a $1.1 billion Series B led by Aker with Nvidia and Nokia (September 2025) and a $2 billion Series C at a reported $14.6 billion valuation (March 2026); reports in September 2026 said it was seeking about $3.5 billion in pre-IPO financing.

Its best-known projects are Stargate UK and Stargate Norway with OpenAI, Nvidia and Aker, and a Microsoft supercomputer at its Loughton campus in the UK. Microsoft is described as its main anchor customer, with GPU capacity contracted across sites in Norway, Portugal, the UK and the US. Nvidia is both a hardware supplier and an investor.