The brief

Analyst view

• Raised $2B Series C at $14.6B valuation. $3.36B pre-IPO financing led by Third Point and NVIDIA.
• Operates data centers in Narvik (Norway), Loughton (UK) and US with liquid cooling and modular design.
• Operating Stargate Norway (targeting 100,000 GPUs by end 2026) and Stargate UK infrastructure partnership with OpenAI.

Technical approach

As reported

Full-stack infrastructure

Data center to software stack

Nscale designs and operates data centers with liquid cooling and modular architecture, then layers managed cloud, storage and orchestration on top.

Energy integration

Behind-the-meter power and microgrids

Operates or contracts power generation and microgrid systems to stabilize costs and energy supply for high-density GPU operations.

Managed platform

Nscale Cloud: inference, fine-tuning, Kubernetes

Provides managed endpoints for inference, model fine-tuning, and orchestrated GPU access via Kubernetes and Slurm for enterprise customers.