Nscale, the AI-native hyperscaler, announced it has signed a USD $1.4 billion Delayed Draw Term Loan (GPU DDTL) backed by GPUs. The oversubscribed loan, led by funds managed by PIMCO, Blue Owl, and LuminArx Capital Management with support from additional asset managers and banks, will finance multiple GPU cluster deployments across Norway, Portugal, Iceland, and the UK. This follows Nscale’s recent $1.1 billion Series B equity raise—the largest Series B in European history—and its $433 million Pre-Series C SAFE.
Headquartered in Europe with global operations, Nscale provides vertically integrated AI infrastructure, including compute, networking, storage, managed software, and AI services, delivered from Nscale-owned and colocated data centers. The GPU DDTL will enable the company to deploy large-scale GPU infrastructure for existing contracts and maintain liquidity for additional pipeline clusters, leveraging some of the lowest-cost renewable energy in its strategically located data centers.
Support: Goldman Sachs acted as Sole Structuring Agent and Sole Placement Agent for the transaction.
KEY QUOTES:
“We’re seeing massive demand for AI infrastructure to support the needs of businesses and consumers. This GPU debt financing is a key step in meeting that demand – backing infrastructure that can be delivered faster and more cost-effectively than industry norms, whether that’s large-scale hubs in Norway to smaller metro clusters built for low-latency workloads.”
Josh Payne, Founder and CEO, Nscale
