NEWS
Nscale secures US $ 790 million for Norway AI data centre buildout
Nscale has secured an additional US $ 790 million in financing to support continued development of its AI data centre campus in Narvik, Norway, strengthening one of Europe’ s largest Artificial Intelligence infrastructure projects.
The financing has been committed by ABN AMRO, DNB, Eksfin, Nordea and SEB. Nscale said the project represents the largest AI infrastructure investment in Norway and will expand the company’ s ability to deliver scalable high-performance computing capacity as global demand for AI infrastructure accelerates.
The package also includes a further US $ 790 million uncommitted accordion feature that could fund an additional 115MW expansion at the Narvik campus.
The announcement follows Nscale’ s US $ 2 billion Series C funding round completed in March 2026. The round was led by Aker ASA and 8090 Industries and valued the company at US $ 14.6 billion. Nscale also secured a US $ 1.4 billion delayed draw term loan in February 2026 to support infrastructure expansion.
Josh Payne, Founder and CEO, Nscale, 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.”
Nscale said the financing will support its vertically integrated AI infrastructure strategy spanning GPU compute, networking, data services and orchestration software as the company continues expanding operations across Europe, North America and Asia to meet rising enterprise and hyperscale demand for accelerated computing platforms.
Industry analysts expect demand for AI-ready data centres to continue increasing as enterprises deploy generative AI, automation and advanced analytics workloads requiring larger volumes of compute capacity and energy-efficient infrastructure.
Pantheon AI unveils € 50 billion hyperscale AI data centre campus in Croatia
Pantheon Atlas LLC has unveiled plans for Pantheon AI, a hyperscale AI data centre and innovation campus in Topusko, Croatia – designed to NVIDIA GW-Scale AI factory standards and positioned to transform Central Europe’ s digital infrastructure market.
The project is expected to generate more than € 50 billion in total investment and address Europe’ s growing shortage of AI-ready data centre capacity. Pantheon AI said demand for AI infrastructure across Europe has outpaced available power, land and construction resources, while vacancy rates in established hubs have fallen below 8 %.
Pantheon AI will support integration of up to 5.2GW of renewable energy into Croatia’ s grid and is expected to become the largest investment in Croatian history. Construction of the € 12 billion campus is scheduled to begin in early 2027, with full operations targeted for the first quarter of 2029.
Jako Andabak, Founding Partner, PantheonAI, said the development reflects years of work establishing local grid access, regulatory groundwork and infrastructure partnerships needed to support hyperscale growth.
Ryan Rich, Managing Partner, PantheonAI, said the transatlantic partnership combines American investment expertise with local operational knowledge to position Croatia as a leading destination for AI-driven infrastructure expansion.
Joshua Volz, Special Envoy for Global Energy Integration at the US Department of Energy, described the project as an example of American investment supporting European digital infrastructure and long-term economic security.
The campus is expected to attract hyperscale technology tenants seeking compliant European data hosting capacity as EU sovereignty regulations increasingly require regional storage and processing infrastructure at scale.
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