Portugal Attracts Another Major Investment: Nscale Raises $2 Billion as Europe Accelerates AI Infrastructure Expansion
As artificial intelligence continues to penetrate across industries, global demand for computing power, data centers, and energy resources is growing rapidly. AI infrastructure is emerging as a core pillar of the next wave of industrial competition, with capital markets accelerating investments in this critical sector and driving companies into a new phase of growth.
Global Capital Accelerates AI Infrastructure Development
Against this backdrop, London-based AI infrastructure company Nscale has announced the completion of a $2 billion Series C funding round, bringing its valuation to $14.6 billion. This represents one of the largest funding rounds among European startups and highlights strong market confidence in the long-term value of AI infrastructure.
The round was led by Norway’s Aker ASA and U.S.-based 8090 Industries, with participation from Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, Nvidia, and Point72. Prior to this, the company had also secured $1.4 billion through a GPU-backed financing structure, further strengthening its capacity to invest in large-scale infrastructure.
Nscale stated that the new funding will support the expansion of its AI infrastructure platform across Europe, North America, and Asia. The company is developing an integrated system combining GPU computing, networking, data services, and orchestration software to support large-scale AI training, inference, and enterprise applications. CEO and founder Josh Payne noted that AI is driving a profound industrial transformation and will increasingly be embedded across all sectors in the coming years, generating sustained demand for infrastructure.
Strategic Deployment in Portugal Strengthens Regional Positioning
Within Nscale’s global strategy, Portugal has emerged as a key hub. The company has selected the Start Campus data center in Sines, located in the Alentejo region, to deploy 12,600 high-end Nvidia AI processors, which will support Microsoft’s AI operations.
As part of the project, Microsoft plans to invest approximately €10 billion in Portugal to develop related AI infrastructure. This initiative is expected to become one of the largest AI infrastructure investments in Europe and significantly enhance Portugal’s role within the regional digital ecosystem.
Sines offers several strategic advantages, including reliable energy supply, extensive submarine cable connectivity, and a geographic position linking Europe and the Americas. These factors make it particularly suitable for large-scale data centers and high-performance computing infrastructure. As these projects progress, Portugal is accelerating its transition from a traditionally tourism- and industry-based economy toward a more technology-driven, digital economy.
Strengthened Governance and Ecosystem Development
In parallel with its capital expansion, Nscale is also strengthening its governance structure. Following the funding round, former Meta COO Sheryl Sandberg, former UK Deputy Prime Minister and Meta President of Global Affairs Nick Clegg, and technology and investment executive Susan Decker have joined the company’s board.
These additions are expected to enhance Nscale’s ability to integrate global resources and execute its strategy more effectively. The company has also announced the integration of its joint venture with Aker, aiming to streamline governance and accelerate project delivery while ensuring continuity and long-term value creation.
AI Infrastructure Reshaping the Economic Landscape
From a long-term perspective, artificial intelligence is driving a new wave of infrastructure development. Large-scale GPU clusters and data centers are becoming foundational assets in the digital economy, similar in importance to traditional infrastructure in previous industrial eras.
Within this transformation, Portugal is increasingly attracting global capital and technology players, supported by its energy capabilities, strategic location, and policy environment. As projects continue to materialize, the country’s role in the European and global digital value chain is steadily strengthening.
For investors focused on European markets, these developments carry important implications. As high-tech industries cluster and expand, economic activity, employment structures, and urban development are likely to evolve accordingly. In this context, real estate and related asset classes may also benefit from the structural shifts driven by industrial upgrading.
While maintaining its strengths in quality of life and institutional stability, Portugal is now gaining additional momentum from the growth of the digital economy, positioning itself as a market with sustained long-term potential.
Reference link:
https://techfundingnews.com/nscale-raises-2b-series-c-europe-largest-ai-infra
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