U.S. chipmaker Nvidia (NVDA) has financially backed artificial intelligence (A.I.) data centre start-up company Nscale in a new round of fundraising.
Nscale has raised $2 billion U.S. of capital at a $14.6 billion U.S. valuation, the company announced.
Nvidia was one of the lead investors in the new funding round, along with Dell Technologies (DELL), Nokia (NOK), and several venture capitalists and hedge funds.
Nscale also appointed three new members to its board of directors, including former Meta Platforms (META) executive Sheryl Sandberg and former Yahoo President Susan Decker.
Founded in 2024, British-based Nscale has emerged as a key player in the A.I. infrastructure buildout, developing data centres and operating cloud computing services.
The company said the capital it raised will help accelerate its development of vertically integrated A.I. infrastructure, including microchips, data services, and software.
Nscale currently operates data centres in the United Kingdom (U.K.), U.S., Norway, Portugal and Iceland. It has deals with several technology companies, including Microsoft (MSFT).
Nscale has said it plans to hold an initial public offering (IPO), although the exact timing of the company’s market debut hasn’t been announced.
NVDA stock has risen 66% over the last 12 months to trade at $177.88 U.S. per share.
