Overview
Nscale, incorporated in May 2024, builds and operates data centres and an AI cloud in low-cost power markets including Norway, Portugal, Iceland and the United States[38]. Revenue was US$33.0 million in 2025 and US$19.1 million in 2024, then US$140.6 million in the first half of 2026[38]. A Portuguese campus will support an expanded collaboration with Microsoft through more than 66,000 NVIDIA Vera Rubin NVL72 GPUs from late 2027[38]. On 9 March 2026 it raised a US$2 billion Series C at a US$14.6 billion valuation, led by Aker ASA and 8090 Industries[39]. It agreed on 28 July 2026 to acquire Anyscale, the company behind the Ray distributed-computing framework, and filed in September 2026 to list on the NYSE as NSCL[38]. Its very short operating history is the principal risk.
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