Nscale has secured an additional US$790 million in financing to support continued development of its AI data centre campus in Narvik, Norway, strengthening one of Europe’s largest Artificial Intelligence infrastructure projects.
The financing has been committed by ABN AMRO, DNB, Eksfin, Nordea and SEB. Nscale said the project represents the largest AI infrastructure investment in Norway and will expand the company’s ability to deliver scalable high-performance computing capacity as global demand for AI infrastructure accelerates.
The package also includes a further US$790 million uncommitted accordion feature that could fund an additional 115MW expansion at the Narvik campus.
The announcement follows Nscale’s US$2 billion Series C funding round completed in March 2026. The round was led by Aker ASA and 8090 Industries and valued the company at US$14.6 billion. Nscale also secured a US$1.4 billion delayed draw term loan in February 2026 to support infrastructure expansion.
Josh Payne, Founder and CEO, 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.”
Nscale said the financing will support its vertically integrated AI infrastructure strategy spanning GPU compute, networking, data services and orchestration software as the company continues expanding operations across Europe, North America and Asia to meet rising enterprise and hyperscale demand for accelerated computing platforms.
Industry analysts expect demand for AI-ready data centres to continue increasing as enterprises deploy generative AI, automation and advanced analytics workloads requiring larger volumes of compute capacity and energy-efficient infrastructure.
