Sandberg, Clegg join Nscale board as this ‘Stargate Norway’ startup hits $14.6B valuation

Nscale, a Norway-based AI infrastructure startup, has reached a $14.6 billion valuation following a major funding round described as the largest in European history. This round, backed by prominent investors including Blue Owl, Dell, Nvidia, Nokia, Goldman Sachs, and JPMorgan, supports Nscale’s vertically integrated approach spanning energy, data centers, compute, and orchestration software. The company plans to leverage this capital to accelerate AI infrastructure development across Europe, North America, and Asia, expand its engineering and operations teams, and enhance its platform. Nscale also raised debt financing secured by GPUs to support its cluster deployments in Europe. The startup’s board has been strengthened with high-profile additions such as former Meta COO Sheryl Sandberg, former Yahoo president Susan Decker, and former UK deputy prime minister Nick Clegg. Nscale is closely associated with the “Stargate Norway” project, an ambitious AI infrastructure initiative involving OpenAI and led by Aker’s joint venture, which is now fully