Sandberg, Clegg join Nscale board as this 'Stargate Norway' startup hits $14.6B valuation

Nscale, the Nvidia-backed British AI infrastructure company, has reached a valuation of $14.6 billion. The figure follows a $2 billion Series C round that the company described as the largest in European history, though the total includes a $433 million pre-Series C SAFE backed by Blue Owl, Dell, Nvidia and Nokia. The company announced that former Meta chief operating officer Sheryl Sandberg, former Yahoo president Susan Decker and former U.K. deputy prime minister Nick Clegg are joining its board. Goldman Sachs and JPMorgan supported the raise. Nscale is advancing its Stargate Norway project, a Norway-based AI infrastructure effort that aims to run on 100,000 Nvidia GPUs by the end of 2026 with OpenAI as an initial customer. Aker, a Norwegian public company, is co-leading the Series C and has agreed that its joint venture with Nscale will now be fully managed by the startup. Aker president and chief executive Oyvind Eriksen said the step strengthens execution by placing delivery and governance under one roof.