Nscale

London-based vertically integrated AI infrastructure company Nscale has secured a massive £580 million ($790 million) debt financing package to fund the continued development of its flagship AI data centre in Narvik, Norway. The committed facility was provided by a powerful Nordic banking syndicate including ABN AMRO, DNB, Eksfin, Nordea, and SEB.

Summary of transaction details:

• Value: £580 million ($790 million) Committed Debt Facility
• Sector: DeepTech & AI / AI Infrastructure / Data Centres
• Advisor: Not disclosed
• Key Entities: Target: Nscale; Mandated Lead Arrangers & Bookrunners: ABN AMRO, DNB, Eksfin (Export Finance Norway), Nordea, SEB; Key Executive: Josh Payne (Founder & CEO)
• Location: London, UK (HQ) / Narvik, Norway (Data Centre)

Note: Nscale is building the physical and digital foundations to train and deploy generative AI workloads from cloud to edge. This $790 million debt package represents the largest AI infrastructure investment in Norway and includes an uncommitted accordion feature of an additional $790 million to potentially fund a further 115MW expansion at the Narvik site. This capital injection follows a blistering run of financing for the hyperscaler, building on a $1.4 billion delayed-draw term loan in February and a $2 billion Series C equity round in March 2026. The new Nordic financing directly supports Nscale's recent agreement with Microsoft, which will see Microsoft rent vast GPU capacity at the Narvik campus.