Nscale lands $2 billion, meta veterans join ai powerhouse

London-based Nscale, a key player in the UK government’s AI strategy, has secured a staggering $2 billion (£1.5 billion) in funding, bolstering its valuation to $14.6 billion. The investment, led by Nvidia, coincides with the appointment of former Meta executives Sheryl Sandberg and Nick Clegg to its board, signaling a significant escalation in the race to dominate artificial intelligence infrastructure.

Nscale's funding round signals uk's ai ambitions

The funding follows a $1.1 billion round last September, demonstrating rapid growth for the startup, which was spun out of Australian bitcoin mining firm Arkon Energy in 2024. Nscale’s stated ambition is to build out a global network of data centers, though much of its current infrastructure is leased rather than owned. The company is also spearheading the development of a supercomputer in Loughton, a cornerstone of the UK government’s plan to “mainline AI” into the economy. This supercomputer is slated to be operational later this year.

Clegg, formerly the UK’s Deputy Prime Minister, brings