Nvidia-backed artificial intelligence group Nscale achieved a $14.6 billion valuation following a $2 billion Series C funding round. The round was led by Norway's Aker and 8090 Industries, with participation from Nvidia, Citadel, Dell, and Jane Street.
Former Meta executives Nick Clegg and Sheryl Sandberg, along with ex-Yahoo President Susan Decker, will join the AI firm's board.
This funding precedes Nscale's preparations for an initial public offering. The company has reportedly hired Goldman Sachs and JPMorgan as underwriters.
Founded in 2024, Nscale operates its own data centers, GPUs, and software stack to provide large-scale AI compute. The new capital will fuel the expansion of its data-center capacity to meet escalating demand from clients such as Microsoft and OpenAI.