PANews reported on December 10 that according to DCD, Nscale, the European AI cloud company under Arkon Energy, a bitcoin mining company, has completed a $155 million Series A financing round, led by Sandton Capital Partners, with participation from Kestrel, Bluesky Asset Management, and Florence Capital, which will drive its growth plans in Europe and North America.
According to the introduction, Nscale was officially launched in May 2024. The company provides a GPU cloud based on AMD hardware, particularly the AMD Instinct M1300X accelerator and AMD MI250 GPU, as well as Nvidia's A100, H100, and V100 GPUs. Nscale operates a 60MW data center in Glomfjord, Norway, which was previously owned by Arkon. The company claims to have expanded its greenfield data center capacity in Europe and North America from 300MW to 1.3GW, and plans to develop 120MW by 2025. Nscale says it will launch a public cloud service in the first quarter of 2025, allowing developers to access custom-built inference and training solutions in a flexible development environment.
