Nscale Raises $2B with Ex-Meta Execs on Board, NVIDIA GPUs

Ex-Meta Execs Join Nscale Board as Rent-a-GPU Firm Raises $2B, Hits $14.6B Valuation

LONDON — UK-based neocloud operator Nscale has added high-profile former Meta executives Sir Nick Clegg and Sheryl Sandberg, along with former Yahoo president Susan Decker, to its board of directors as the GPU rental specialist completed a $2 billion Series C funding round that values the company at $14.6 billion.

The announcement, confirmed by Nscale on Monday, March 9, 2026, comes as the company continues its aggressive expansion of AI infrastructure across Europe and the United States. The funding was led by Aker ASA and 8090 Industries, with participation from Dell, Lenovo, Nvidia, Astra Capital Management, Linden Advisors and others. At the same time, Nscale said it has agreed to roll its joint venture with Aker fully into the parent company. That venture, previously revealed as Stargate Norway, aims to build a 230 MW datacenter that will deliver 100,000 Nvidia GPUs for OpenAI by the end of 2026.

Nscale operates datacenters in multiple European countries and the US, positioning itself as a provider of on-demand GPU capacity — often described as "rent-a-GPU" — for AI training and inference workloads. The company is part of a growing cohort of neoclouds seeking to challenge the dominance of hyperscalers by offering specialized, high-performance compute for artificial intelligence without the long-term commitments typically required by major cloud providers.

High-Profile Board Additions Signal IPO Preparations

The addition of Clegg, Sandberg and Decker is widely viewed as preparation for a potential initial public offering, according to multiple reports citing the company's strategy. The trio brings significant policy, operational, financial and governance expertise to a board that already includes Josh Payne, Rael Nurick, Jacob Leschly and Aker ASA CEO Øyvind Eriksen.

Sir Nick Clegg, who served as Meta's president of global affairs until stepping down just over a year ago, brings "deep expertise at the intersection of technology, policy, and global affairs," according to Nscale. The former British deputy prime minister and Liberal Democrat leader has been vocal on AI policy issues. Last year he argued that requiring AI companies to seek permission or pay for copyrighted material used in training would "destroy the AI industry." He also criticized the US-UK Tech Prosperity Deal for favoring American tech giants over homegrown competitors.

Clegg is also a General Partner at Hiro Capital, a private equity firm focused on emerging technologies including AI, robotics and spatial computing.

Sheryl Sandberg, who served as Meta's chief operating officer from 2008 to 2022 and remained on the company's board until 2024, is a co-founder of Sandberg Bernthal Venture Partners. Nscale said she brings extensive operational experience from scaling one of the world's largest technology companies. Susan Decker, who was president of Yahoo in 2007 and 2008, founded the university-focused social platform Raftr in 2017. She currently serves on the boards of Costco, Berkshire Hathaway, Chime and Vox Media. Nscale highlighted her "sharp financial acumen, governance expertise, and strategic leadership."

The appointments come amid notable career moves for other former UK political figures in tech: former chancellor George Osborne has taken a role at OpenAI, while former prime minister Rishi Sunak has advised Microsoft and Anthropic.

Nvidia-Backed Expansion of AI Infrastructure

Nvidia's participation in the funding round underscores the company's strategic interest in expanding the global supply of GPU capacity for AI. As one of the leading suppliers of graphics processing units essential for large-scale AI model training, Nvidia has increasingly invested in infrastructure providers that can help alleviate the severe GPU shortages faced by AI developers.

The integration of the Aker-Nscale joint venture, previously known as Stargate Norway, represents a significant step in Nscale's capacity expansion. The planned 230 MW facility is expected to house 100,000 Nvidia GPUs dedicated to OpenAI by the end of 2026, according to details released last year. This project highlights the massive power requirements of modern AI infrastructure and the growing partnerships between infrastructure providers, chipmakers and AI labs.

Nscale's business model focuses on providing flexible access to GPU clusters, allowing AI companies to scale compute resources without the capital expenditure of building their own datacenters. This "rent-a-GPU" approach has gained traction as demand for AI training far outstrips available supply from traditional cloud providers.

Competitive Landscape in the Neocloud Space

Nscale enters this funding round in a competitive environment that includes other specialized AI cloud providers and GPU rental platforms. The company's $14.6 billion valuation places it among the more highly valued private AI infrastructure companies, reflecting strong investor appetite for businesses that can help address the global GPU crunch.

The involvement of major hardware vendors including Dell, Lenovo and Nvidia in the funding round suggests confidence in Nscale's ability to execute on its expansion plans. These partnerships may also provide preferential access to next-generation hardware, giving Nscale an edge in a market where securing GPU supply has become increasingly difficult.

The European focus of Nscale's operations also positions it to benefit from regional AI initiatives and data sovereignty requirements. With datacenters across several European countries, the company can offer lower-latency access and regulatory compliance advantages to European AI developers and enterprises.

Implications for AI Developers and the Industry

For AI developers and startups, Nscale's expansion and high-profile board additions could signal improved access to critical GPU resources. The ability to rent GPU capacity on flexible terms has become a key differentiator for companies unable to secure long-term contracts with major cloud providers or build their own infrastructure.

The company's growth also reflects the broader trend of specialization in AI infrastructure. Rather than competing directly with hyperscalers like Amazon Web Services, Microsoft Azure and Google Cloud on all fronts, neoclouds like Nscale are focusing specifically on high-performance GPU compute for AI workloads.

The addition of policy expertise through Clegg's appointment may prove particularly valuable as governments worldwide grapple with AI regulation. His experience navigating the intersection of technology and global affairs could help Nscale address regulatory challenges across its European and US operations.

What's Next for Nscale

Nscale did not disclose specific timelines for additional datacenter deployments beyond the Stargate Norway project, which targets completion of GPU delivery by the end of 2026. The company is expected to focus on integrating the new board members and executing on its capacity expansion plans.

Industry observers will be watching to see whether the $14.6 billion valuation and prominent board appointments accelerate Nscale's path toward an IPO. The company's ability to secure Nvidia GPUs and deliver on the ambitious Stargate Norway project will be key metrics of its execution capability.

The funding round also highlights continued strong investor interest in AI infrastructure plays, even as some segments of the AI market face scrutiny over energy consumption and return on investment. Nscale's backers appear to be betting that demand for GPU compute will continue to outpace supply for the foreseeable future.

The integration of the Aker joint venture provides Nscale with additional scale and resources while simplifying its corporate structure. This move, combined with the new capital, positions the company to compete more effectively in the rapidly evolving AI infrastructure market.

Competitive Context and Market Dynamics

Nscale's rise occurs against a backdrop of intense competition for Nvidia's latest generation GPUs, including the H100, H200 and Blackwell series. The company's ability to attract investment from Nvidia itself suggests it has secured favorable terms for hardware acquisition, a critical advantage in the current market.

The involvement of Aker ASA, an industrial investment company, also brings significant energy and infrastructure expertise to Nscale. The 230 MW scale of the Stargate Norway project underscores the massive power requirements of modern AI training clusters, where power availability and cooling infrastructure have become as important as the GPUs themselves.

For the broader AI industry, Nscale's growth represents another step toward diversifying the supply of critical compute resources beyond the traditional hyperscalers. This diversification is particularly important for smaller AI companies and research organizations that often struggle to access sufficient GPU capacity through major cloud providers.

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Ex-Meta execs pop up on Nscale board as rent-a-GPU firm raises $2B

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