The development marks what is reported as the largest AI infrastructure investment in Norway to date. Credit: Gorodenkoff/Shutterstock.com.

Nscale has secured a $790m financing commitment from ABN AMRO, Eksfin, DNB, Nordea, and SEB to advance its AI data centre project in Narvik, Norway.

The AI infrastructure company also obtained a $790m accordion feature intended for a further 115-megawatt (MW) expansion at the Narvik site.

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This development marks what is reported as the largest AI infrastructure investment in Norway to date.

The latest funding commitment builds on Nscale’s prior agreement with Microsoft, expanding their partnership to provide additional high-performance AI compute capacity in Norway in 2027.

As a result, the total capacity of the Narvik campus will reach 230MW, supporting more than 30,000 NVIDIA Rubin graphics processing units (GPUs).

This expansion is set to make the campus one of Norway’s largest onshore infrastructure builds when completed.

Recent milestones for Nscale include a $2bn Series C funding round closed in March 2026, led by Aker and 8090 Industries, which valued the company at $14.6bn.

The company announced that investors such as Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, Nvidia, and Point72 also supported the round. In February 2026, Nscale secured a $1.4bn Delayed Draw Term Loan.

The newly raised funds are intended to support Nscale’s ongoing development of vertically integrated AI infrastructure across Europe, North America, and Asia.

Solutions will range from GPU compute and networking to data services and orchestration software.

ABN AMRO Bank, DNB Bank, and Nordea Bank, filial i Norge, serve as Bookrunners, working alongside Export Finance Norway and Skandinaviska Enskilda Banken as Mandated Lead Arrangers for the financing package.

Nscale founder and CEO Josh Payne 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.”