Overview
- Nscale said it obtained $790 million in new financing to build out what it calls Norway’s largest AI infrastructure project in Narvik.
- The package includes an uncommitted $790 million accordion that could fund a further 115 megawatts of capacity.
- ABN AMRO, DNB and Nordea are serving as bookrunners, with Export Finance Norway (Eksfin) and SEB named mandated lead arrangers.
- The financing follows a $2 billion Series C in March and a $1.4 billion term loan in February, bringing the project toward a reported $6.2 billion scope.
- The campus is planned for roughly 230 megawatts, and outside reporting says Microsoft has taken added capacity with more than 30,000 Nvidia Rubin GPUs slated for 2027.