The funding round values Nscale at $14.6bn, and the Series C had support from Astra Capital Management, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, Nvidia and Point72. 

The funding will help increase Nscale’s development of vertically integrated AI infrastructure across Europe, Asia and North America, as well as deepening Nscale’s infrastructure footprint, expanding its engineering and operations teams, and strengthening its platform.

Nscale has also appointed three new board members: Sheryl Sandberg, former Meta chief operating officer; Susan Decker, chief executive and co-founder at Raftr; and Nick Clegg, former UK deputy prime minister and former president of global affairs at Meta.

Josh Payne, chief executive and founder at Nscale, said: “This is the fourth industrial revolution; the world is changing at a rapid pace. Over the next five years, AI will be integrated into every industry, every product and every job.

“Accelerating drug discovery, extending human life, autonomising travel and robotics, lifting productivity and driving massive growth. This is leading to the largest infrastructure buildout in human history.”

Liz Kendall, secretary of state for science, innovation and technology, said: “The AI revolution is already fuelling breakthroughs from health to clean energy that can help us build a wealthier and fairer Britain. 

"The success of UK-based Nscale shows how firms are seizing this opportunity to invest, expand and create jobs in this country.”