- The oversubscribed GPU DDTL will finance multiple cluster deployments located in Norway, Portugal, Iceland and the UK
- The raise follows recent announcement of Nscale’s $1.1bn Series B equity raise – the largest Series B ever in European history, and the announcement of Nscale’s $433m Pre-Series C SAFE
London, U.K. February 12, 2026 – Nscale, the hyperscaler engineered for AI, today announced it has signed a USD $1.4 billion Delayed Draw Term Loan backed by GPUs (the “GPU DDTL”). The GPU DDTL was led by funds managed by PIMCO, Blue Owl, and LuminArx Capital Management, with support from additional asset managers and banks. The funding will be used to purchase GPU infrastructure to deliver service under multiple contracts.
Headquartered in Europe and operating globally, Nscale is an AI-native infrastructure platform, providing vertically integrated compute, networking, storage, managed software and AI services delivered in Nscale-owned and colocated data centers.
This financing directly supports Nscale while it builds large scale GPU deployments in support of the surging enterprise demand. Its strategically located data centers harness some of the lowest-cost renewable energy in the world, allowing Nscale to pass these significant savings directly to customers while meeting stringent regulatory requirements.
The GPU DDTL will be used to further Nscale’s deployment of large-scale AI infrastructure across Europe by allowing Nscale to utilize debt to finance a portion of GPU infrastructure purchases. The loan provides capital for capex spend associated with multiple GPU clusters for customers with executed contracts and additional liquidity for pipeline clusters.
Josh Payne, Founder and CEO of Nscale said, “We’re seeing massive demand for AI infrastructure to support the needs of businesses and consumers. This GPU debt financing is a key step in meeting that demand – backing infrastructure that can be delivered faster and more cost-effectively than industry norms, whether that’s large-scale hubs in Norway to smaller metro clusters built for low-latency workloads.”
This announcement comes following major milestones for Nscale over the last year – including contracts for multiple large scale compute clusters across the globe, along with expanding its leadership team and the acquisition of Future-tech, a European data center engineering consultancy – in service of continuing to grow its global footprint.
Goldman Sachs & Co. LLC acted as Sole Structuring Agent and Sole Placement Agent for Nscale in connection with this debt raise.
About Nscale
Nscale is the global hyperscaler engineered for enterprise-grade AI infrastructure, delivering compute to the generative AI market at scale. Through its fully vertically integrated suite of AI solutions and GW+ greenfield data centres across the globe, Nscale enables customers to run efficient and scalable AI training, fine-tuning, and inferencing workloads.
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