Nscale has announced $790 million in financing committed by ABN AMRO, DNB, Eksfin, Nordea, and SEB to support the continued development of its AI data center in Narvik, Norway — the largest AI infrastructure investment in the country. The committed financing also includes an additional $790 million uncommitted accordion feature to fund a further 115-megawatt expansion at the Narvik campus.
The financing follows a recently signed agreement reinforcing the scale and strategic importance of the Narvik campus, and builds on strong momentum the company has generated in 2026. Nscale closed a $2 billion Series C funding round in March 2026 led by Aker ASA and 8090 Industries, and signed a $1.4 billion Delayed Draw Term Loan in February 2026. ABN AMRO Bank, DNB Bank, and Nordea Bank acted as Bookrunners on the latest financing, alongside Export Finance Norway and Skandinaviska Enskilda Banken as Mandated Lead Arrangers.
Nscale is a vertically integrated AI infrastructure company building the physical and digital foundation to train, deploy, and scale AI from cloud to edge. The company owns and operates the full stack spanning energy, data centers, GPU compute, and software, and said its approach gives AI-native companies, enterprises, and governments the efficiency, reliability, and control that advanced AI demands. The Narvik data center represents a flagship deployment of that integrated model in one of Europe’s most strategically advantaged energy markets.
KEY QUOTE:
“Together, these developments position Nscale at the forefront of global AI infrastructure, delivering scalable, high-performance capacity to meet rapidly growing demand for our services.”
Josh Payne, Founder and CEO, Nscale
