Nscale, the Nvidia-backed cloud computing start-up, said it had raised $1.1bn in the latest large financing of data centres for artificial intelligence.
The round is led by Aker, the Norwegian energy and industrial group that Nscale is already working with to build a data centre that will serve customers, including OpenAI, in Narvik in northern Norway.
Aker is investing $285mn in the new round, comprised of cash and “a portion of the Narvik land portfolio contributed in-kind” for a 9.3 per cent stake in Nscale, according to a statement from the Norwegian group.
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