London-based AI infrastructure startup Nscale is reportedly seeking $2.7 billion in new funding to accelerate the global rollout of its NVIDIA-powered data centers, according to a Bloomberg report citing offering documents.
The financing includes a proposed $1.8 billion private credit facility and $900 million in preferred equity and convertible shares. Nscale, which operates sites in Norway and Texas, plans to build five additional facilities to meet surging demand for AI compute.
CEO Joshua Payne previously stated the company manages all layers of infrastructure to support large-scale AI workloads and emphasized access to critical energy resources.
Nscale most recently raised $155 million in Series A funding in December to scale its infrastructure amid rising power and compute demands.
