Company that brought Nvidia chips to Sines raises two billion dollars

British company Nscale announced on Monday that it had raised two billion dollars in a Series C financing round led by Norway’s Aker ASA and America’s 8090 Industries. The operation values this company, known in Portugal for its involvement in a multi-million dollar investment by Microsoft in Sines, at 14.6 billion dollars.

As announced in November, Nscale was the company that chose the Start Campus data centre on the Alentejo coast to install 12,600 state-of-the-art Nvidia graphics cards that will serve Microsoft. The tech giant will invest ten billion euros in Portugal under this artificial intelligence (AI) infrastructure project.

“This is the fourth industrial revolution; the world is changing very quickly. Over the next five years, artificial intelligence will be integrated into every industry, every product and every job. Accelerating drug discovery, extending human life, autonomising travel and robotics, increasing production and triggering massive growth”, said Josh Payne, CEO and founder of Nscale, quoted in a statement.

Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Liden Advisors, Nokia, Nvidia, and Point72 also participated in this new two billion dollar financing round. At the same time, Nscale announced on Monday that former Meta executives Sheryl Sandberg and Nick Clegg will join its board of directors.

Nscale was spun off in 2024 from bitcoin mining infrastructure company Arkon Energy and has been investing heavily in expanding AI infrastructure around the world for some of the best-known names in this ecosystem, including OpenAI.