Nvidia-backed Nscale valued at $14.6 billion in fresh funding round

March 9 (Reuters) - Nvidia-backed ‌artificial intelligence ​group ​Nscale was valued at $14.6 billion after raising $2 billion in its latest ‌funding round, the British company said ⁠on Monday.

The Series C funding round was led ‌by Norway's Aker and ‌8090 Industries, and included Nvidia, Citadel, Dell, Jane Street, among others, the firm said in ​a statement.

Former Meta executives Nick Clegg and Sheryl Sandberg, and former Yahoo ⁠President Susan Decker will join the board of the AI ​firm, the company said.

The funding round comes ahead of the AI group's ​preparations for an initial ‌public offering, for which Nscale Global has hired Goldman Sachs and ⁠JPMorgan as underwriters, sources told Reuters earlier this year.

The timeline for the potential listing has ⁠not yet been set, the sources had said.

Founded ​in 2024, Nscale owns and operates its own data centres, graphic processing units (GPUs), and software stack to ‌deliver large-scale, GPU-powered AI compute.

The new funding will help it expand ‌its data‑centre capacity to meet soaring ⁠demand for AI ‌computing from customers, ​including Microsoft and OpenAI.

(Reporting by Ruchika Khanna in Bengaluru; Editing by Harikrishnan ‌Nair)

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