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Nscale Secures $790 Million in Financing to Support AI Infrastructure Buildout in Norway
Nscale is pleased to announce an additional $790 million in financing – committed by ABN AMRO, DNB, Eksfin, Nordea and SEB – to reinforce the continued development of the AI data center in Narvik, Norway. This data center project is the largest AI infrastructure investment in Norway.
About this update from Skandinaviska Enskilda Banken Ab Class A
[{"type":"text","content":"LONDON, May 11, 2026 /PRNewswire/ -- Nscale is pleased to announce an additional $790 million in financing – committed by ABN AMRO, DNB, Eksfin, Nordea and SEB – to reinforce the continued development of the AI data center in Narvik, Norway. This data center project is the largest AI infrastructure investment in Norway.","length":326,"tagName":"p"},{"type":"image","alt":"Nscale Logo","displaySize":"","headline":null,"caption":"Nscale Logo","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":90,"url":"https://media.zenfs.com/en/prnewswire.com/3912c477a0d5aa21a139d2d71436c84d"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/9aQo46hGxz4CD4K5URoWUg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE1OQ--/https://media.zenfs.com/en/prnewswire.com/3912c477a0d5aa21a139d2d71436c84d","width":400,"height":90},"resize_sm":{"url":"https://s.yimg.com/ny/api/res/1.2/wsnvjMPqcFOkkWrvrrlEvA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTE0NA--/https://media.zenfs.com/en/prnewswire.com/3912c477a0d5aa21a139d2d71436c84d","width":400,"height":90}}},{"type":"text","content":"The committed financing includes an additional $790 million uncommitted accordion feature to fund a further 115MW expansion at the Narvik AI data center. The financing follows Nscale's recently signed agreement, reinforcing the scale and strategic importance of the Narvik campus.","length":284,"tagName":"p"},{"type":"text","content":"This milestone builds on strong recent momentum for Nscale, including the $2 billion Series C funding round in March 2026 — led by Aker ASA and 8090 Industries and the $1.4 billion Delayed Draw Term Loan in February 2026.","length":221,"tagName":"p"},{"type":"text","content":"ABN AMRO Bank N.V., DNB Bank ASA and Nordea Bank Abp, filial i Norge act as Bookrunners and together with Export Finance Norway (nw. Eksportfinansiering Norge) and Skandinaviska Enskilda Banken AB (publ) as Mandated Lead Arrangers.","length":231,"tagName":"p"},{"type":"text","content":"Josh Payne, Founder and CEO of Nscale said, "Together, these developments position Nscale at the forefront of global AI infrastructure, delivering scalable, high-performance capacity to meet rapidly growing demand for our services."","length":242,"tagName":"p"},{"type":"text","content":"About Nscale","length":12,"tagName":"p"},{"type":"text","content":"Nscale is the...