Nscale is a British technology company that operates data centres and GPU cloud infrastructure. Headquartered in London, the company was founded in 2024 by Joshua Payne.
History Nscale spun out from Arkon Energy, a Melbourne, Australia-based infrastructure business focused first on securing power and building in ideal AI compute location, including those with abundant renewable energy sources and a provider of infrastructure for crypto mining. Arkon was based in Melbourne, and Payne is Australian. The FT reported that "Nscale was born (from “stealth mode”) out of Arkon Energy, a Melbourne, Australia-based crypto miner following a $155mn Series A funding round in December 2024. At the same time, Nscale's bitcoin mining operations were being wound down."
Nscale's Series B investment round in 2025 raised $1.1 billion from companies like "Aker, the Norwegian industrial investment company, with additional participation from a raft of firms including NVIDIA, Nokia and Dell".
By October 2025, Nscale secured $433 million in a pre-Series C SAFE funding round and had expanded into Portugal, the UK, US, and Iceland.
In March 2026, Nscale raised $2 billion in its Series C funding round as former Meta COO Sheryl Sandberg, former Yahoo! president Susan Decker, and former U.K. deputy prime minister Nick Clegg joined its board of directors. The company achieved a valuation of $14.6 billion in March 2026.
Nscale is developing a hyperscale AI campus in Ward County, Texas, with approximately 104,000 NVIDIA GPUs planned for Microsoft from 2026. Nscale also acquired American Intelligence and Power Corporation (AIPCorp) and its Monarch Compute Campus in Mason County, West Virginia from Fidelis New Energy. The Monarch Compute Campus is a 2,250-acre site with planned power capacity of 2 gigawatts by 2028, expanding to over 8 gigawatts by 2031.
Partnerships and projects
Nscale has a partnership with Microsoft to supply the tech firm with 200,000 NVIDIA chips. In September 2024, Nscale partnered with Singtel to expand Graphics Processing Unit as a Service (GPUaaS) capacity across Europe and Southeast Asia. The agreement provided Nscale access to NVIDIA H100 GPUs through Singtel’s Paragon platform and data centre infrastructure from Nxera, while Singtel gained access to Nscale’s AMD and NVIDIA accelerator capacity in Europe for regional AI workloads. Nscale partnered with Vast Data in October 2025 to deploy Vast Data's AI Operating System as the data layer for Nscale's global AI cloud infrastructure.
Finances Nscale's audited revenue was $19.1 million in 2024 and $33.0 million in 2025, with $140.6 million in the first half of 2026, according to its Form S-1; the filing also states $103.4 billion in active and contracted take-or-pay agreements.
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