AI hyperscaler Nscale raises £817m led by Aker ASA with Sandton Capital
At a glance
This article covers the Series B on 25 September 2025 for Nscale, an AI-native infrastructure platform building GPU-focused data centres, founded by Joshua Payne. It raised £817m in a round led by Aker ASA, with Sandton Capital also participating.
What does Nscale do?
Nscale provides an AI infrastructure platform hosted in Nscale-owned data centres that combines core capacity, connections and service operations. It supplies capacity and managed services for organisations to run AI workloads and deploy AI applications.
Why is Nscale useful?
Problem
Enterprises and governments face a shortage of secure, scalable GPU capacity needed to run large AI models. They also need compliant, energy-efficient data centres close to users to reduce latency and costs.
Solution
Nscale explains that it provides vertically integrated AI infrastructure, offering large GPU pools, networking, storage and managed software. Its energy-efficient, regionally located data centres deliver fast, lower-cost capacity for enterprise and sovereign AI workloads.
How much did Nscale raise?
Nscale raised £817m ($1.1bn) in a Series B led by Aker ASA, alongside Sandton Capital. This makes it the 1st largest funding round in September 2025 (51 recorded). As of 25 September 2025, the round is the 1st largest of the year (458 total) in the Startupmag database.
For details on how Startupmag compiles its rankings, view our Methodology.
Who invested in Nscale?
Key investors in the round included the following:
- Aker ASA: A Norwegian industrial investment company with activities across energy, maritime and technology; it is also a strategic partner to Nscale through a joint venture.
- Sandton Capital: A private investment firm that backs infrastructure and technology companies.
- Blue Owl: An alternative asset manager investing across credit, real assets and private equity.
- Dell: A multinational computer technology company that also makes strategic investments in AI infrastructure and enterprise solutions.
- Fidelity Management & Research Company: A global investment management firm that deploys capital across public and private markets.
- G Squared: A growth-stage investment firm focusing on scaling technology companies globally.
- Nokia: A multinational telecommunications and networking company investing in IP and optical networking technologies.
- NVIDIA: A semiconductor company specialising in GPUs and AI computing that partners with and invests in AI infrastructure projects.
- Point72: A US-based asset management firm that invests across public and private markets.
- T.Capital: An investment firm that participated in the financing.
In the funding announcement, Øyvind Eriksen from Aker ASA said:
AI is reshaping the global economy and redefining the value of renewable energy. With Nscale, we’re backing infrastructure that’s sovereign, scalable and purpose-built to accelerate this transformation.
The investor said Nscale’s full-stack, GPU-first model supports execution, and that the scale and quality of the Series B, together with the joint venture, reflect a significant long-term commitment to building industrial relevance in the age of AI.
If you're researching potential backers in this space:
- Explore our list of AI venture capital firms in the UK
- Browse our directory of AI angel investors in the UK
Who founded Nscale?
Joshua Payne is the founder of Nscale.
In the funding announcement, Joshua Payne said:
“We are building the AI-native Infrastructure platform of tomorrow,” “AI is reshaping industries, economies, and national strategies – but it cannot happen without the physical backbone: the data centres, the GPUs and the software to orchestrate them.”
The company continued it is building a vertically integrated, AI-engineered foundation and creating a large global platform intended to provide customers access to compute capacity and accelerate the build-out of secure, compliant and energy-efficient AI infrastructure.
Where is Nscale based?
Nscale is based in London, UK.
What sector is Nscale in?
Nscale operates in the AI sector. The AI sector builds software and systems that can learn, reason and make decisions from data. In plain terms, it creates smart programmes that help people and businesses solve problems.
Key trends and challenges in AI:
Compute and GPU scarcity
Demand for specialised GPUs outstrips supply, slowing model training and deployments. For example, training large models can need thousands of GPUs.
Energy and sustainability pressure
AI data centres consume large amounts of electricity, raising carbon and cost concerns. Using renewables like hydropower can lower emissions and running costs.
Regulation and data sovereignty
Regulators demand safer, transparent AI and local data control. For example, rules such as the EU AI Act require risk controls and explainability.
For a deeper look at innovation in this space, see the latest funded AI startups in the UK
They've invested in Nscale
Get to know these AI investors
| Investor | Sector | Stage | Activity | Team | Connect |
|---|---|---|---|---|---|
 Sandton Capital | 1 investment(s) investment(s) | more info | |||
 Blue Owl Managed Funds | 1 investment(s) investment(s) | more info | |||
 Fidelity Management & Research Company | 1 investment(s) investment(s) | more info | |||
 NVIDIA | 5 investment(s) investment(s) | more info | |||
T.Capital | 1 investment(s) investment(s) | more info |
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