Nscale Reportedly in Talks to Raise $2 Billion in New Funding Round

Nscale Reportedly in Talks to Raise $2 Billion in New Funding Round
January 9, 2026

In a significant move underscoring the intense capital demands of the AI infrastructure sector, data center and AI cloud provider Nscale is reportedly seeking to raise up to $2 billion in a new funding round. This development, reported by Bloomberg, comes just three months after the company closed its previous capital raise, highlighting its aggressive expansion strategy to meet soaring demand for high-performance computing.

According to people familiar with the matter cited in the report, Nscale is in discussions with financial giants Goldman Sachs Group and JPMorgan Chase & Co. to facilitate the new funding effort. The company has been on a remarkable fundraising trajectory, having secured $155 million in December 2024 for its AI cloud rollout, followed by a $1.1 billion round in September 2025 from backers including Aker, Nvidia, and Nokia. It then raised an additional $433 million in a pre-Series C SAFE round in October 2025.

This rapid succession of capital injections is fueling Nscale's ambitious growth, which is being driven by major contracts with leading technology firms. The company is a key partner for OpenAI, supporting its UK Stargate project with up to 8,000 GPUs and a massive Norway-based Stargate facility planned for 100,000 GPUs. Simultaneously, Nscale is collaborating with Microsoft on a $10 billion AI data center project in Portugal and has signed substantial capacity deals with the tech giant in the UK, Texas, and Norway, including a reported $6 billion agreement for AI compute.

The potential $2 billion raise signals strong investor confidence in the "neocloud" model and the broader AI data center market. It reflects the immense scale of investment required to build and power the next generation of computing infrastructure needed to train and run advanced AI models. Success in this round would further solidify Nscale's position as a major force in the competitive landscape, enabling it to accelerate its construction timelines and secure more strategic partnerships in a market where compute capacity remains a critical bottleneck.

Source: datacenterdynamics