Nscale secures $790 million in financing for Norway AI data center
Type: Financing · Technology: Data Center · Country: Norway · Capacity: 230 MW · Value: $790M · Announced: 2026-05-11
Nscale has secured $790 million in financing for the development of its AI data center in Narvik, Norway. The facility in Kvandal, outside Narvik, northern Norway, is planned to have 230MW of capacity. The funding was provided by ABN AMRO, DNB, Eksfin, Nordea, and SEB. This financing includes an additional $790 million uncommitted accordion feature to fund a further 115MW expansion at the Narvik AI data center. This development positions Nscale at the forefront of global AI infrastructure, delivering scalable, high-performance capacity.