Insider Brief
- Nscale has secured an additional $790 million in financing from a consortium of European banks including ABN AMRO, DNB, and Nordea, to support continued development of its AI data center in Narvik, Norway — the largest AI infrastructure investment in the country.
- The financing also includes an uncommitted accordion feature of a further $790 million to fund a 115MW expansion at the Narvik campus, and follows a recently signed agreement with Microsoft reinforcing the site’s strategic importance.
- The announcement builds on significant recent momentum for Nscale, including a $2 billion Series C in March 2026 and a $1.4 billion delayed draw term loan in February 2026, as the vertically integrated company moves to position itself at the forefront of global AI infrastructure.
PRESS RELEASE — Nscale is pleased to announce an additional $790 million in financing — committed by ABN AMRO, DNB, Eksfin, Nordea and SEB — to reinforce the continued development of the AI data center in Narvik, Norway. This data center project is the largest AI infrastructure investment in Norway.
The committed financing includes an additional $790 million uncommitted accordion feature to fund a further 115MW expansion at the Narvik AI data center. The financing follows Nscale’s recently signed agreement, reinforcing the scale and strategic importance of the Narvik campus.
This milestone builds on strong recent momentum for Nscale, including the $2 billion Series C funding round in March 2026 — led by Aker ASA and 8090 Industries and the $1.4 billion Delayed Draw Term Loan in February 2026.
ABN AMRO Bank N.V., DNB Bank ASA and Nordea Bank Abp, filial i Norge act as Bookrunners and together with Export Finance Norway (nw. Eksportfinansiering Norge) and Skandinaviska Enskilda Banken AB (publ) as Mandated Lead Arrangers.
Josh Payne, Founder and CEO of Nscale said, “Together, these developments position Nscale at the forefront of global AI infrastructure, delivering scalable, high-performance capacity to meet rapidly growing demand for our services.”
About Nscale
Nscale is the vertically integrated AI infrastructure company building the physical and digital foundation to train, deploy, and scale AI from cloud to edge. By owning and operating the full stack spanning energy, data centers, GPU compute and software, Nscale gives AI natives, enterprises, and governments the efficiency, reliability, and control that advanced AI demands.
Press contact: [email protected]
IR contact: [email protected]
