"Nscale, the vertically integrated AI-infrastructure company, has secured an additional $790m of debt financing to continue building out its AI data centre in Narvik, northern Norway, the company said on Monday. The committed facility was provided by ABN AMRO, DNB, Eksfin (Export Finance Norway) and Nordea, with Skandinaviska Enskilda Banken (SEB) acting as Mandated Lead Arranger alongside the bookrunner banks. ABN AMRO, DNB, and Nordea acted as Bookrunners on the trade."
"Alongside the committed amount, the facility carries an uncommitted accordion feature of a further $790m, earmarked specifically to fund a 115MW expansion at the Narvik site. Nscale described the Narvik project as the largest AI-infrastructure investment in Norway. The financing builds on a year of rapid funding momentum at Nscale. The company closed a $2bn Series C in March 2026, led by Aker ASA and 8090 Industries, and signed a $1.4bn delayed-draw term loan in February 2026."
"Josh Payne, Nscale's founder and CEO, said in the announcement that the combination of recent financing rounds positions the company "at the forefront of global AI infrastructure, delivering scalable, high-performance capacity to meet rapidly growing demand for our services." The Narvik site is part of Nscale's broader European data-centre footprint, which includes a separate flagship build in Portugal at Start Campus's Sines site."
"In a separate announcement, Nscale committed to supplying 66,000+ Nvidia Rubin GPUs to Microsoft at the Portuguese site, with deployment starting in late 2027. The company also has a 1.35 GW commitment with Microsoft, Nvidia, and Caterpillar at a flagship AI campus in West Virginia under the Mon"
Nscale secured an additional $790m of debt financing to continue building its AI data centre in Narvik, northern Norway. The committed facility was provided by ABN AMRO, DNB, Eksfin, and Nordea, with SEB as mandated lead arranger and ABN AMRO, DNB, and Nordea as bookrunners. The facility includes an uncommitted accordion feature of a further $790m earmarked for a 115MW expansion at the Narvik site. Nscale described the Narvik project as the largest AI-infrastructure investment in Norway. The financing follows prior funding momentum, including a $2bn Series C and a $1.4bn delayed-draw term loan, plus a Microsoft agreement covering the Narvik campus. Nscale also plans GPU supply for its Portugal site and has a larger AI campus commitment in West Virginia.
Read at TNW | Investors-Funding
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