Nvidia-backed Nscale valued at $14.6 billion in fresh funding round
FILE PHOTO: AI (Artificial Intelligence) letters and robot hand are placed on computer motherboard in this illustration created on June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
March 9 : Nvidia-backed artificial intelligence group Nscale was valued at $14.6 billion after raising $2 billion in its latest funding round, the British company said on Monday.
The Series C funding round was led by Norway's Aker and 8090 Industries, and included Nvidia, Citadel, Dell, Jane Street, among others, the firm said in a statement.
Former Meta executives Nick Clegg and Sheryl Sandberg, and former Yahoo President Susan Decker will join the board of the AI firm, the company said.
The funding round comes ahead of the AI group's preparations for an initial public offering, for which Nscale Global has hired Goldman Sachs and JPMorgan as underwriters, sources told Reuters earlier this year.
The timeline for the potential listing has not yet been set, the sources had said.
Founded in 2024, Nscale owns and operates its own data centres, graphic processing units (GPUs), and software stack to deliver large-scale, GPU-powered AI compute.
The new funding will help it expand its data‑centre capacity to meet soaring demand for AI computing from customers, including Microsoft and OpenAI.
