The U.K.-based Nscale, an artificial intelligence hyperscaler backed by companies such as Nvidia (NVDA), is involved in discussions to pursue a possible $2B funding round, according to Bloomberg.
The company, which has key partnerships with Nvidia and OpenAI (OPENAI), is working with Goldman Sachs and J.P. Morgan Chase on the potential funding round, the report said.
This follows in the footsteps of two successful funding rounds the company completed in September and October, which were valued at $1.1B and $433M, respectively. The $1.1B proved to be the largest Series B in European history. Participants in the round included Sandton Capital, Blue Owl Managed Funds, Dell (DELL), Fidelity Management & Research Company, G Squared, Nokia (NOK), Nvidia, Point72 and T. Capital.
“We are creating one of the largest global platforms of its kind—purpose-built to meet surging demand and unlock breakthroughs at unprecedented scale,” said Nscale CEO Josh Payne. “This allows Nscale to provide our customers access to scarce and highly sought-after compute capacity and rapidly accelerate the build-out of secure, compliant and energy-efficient AI infrastructure.”
Nscale has recruited a handful of highly experienced executives over the last month. In December, the company hired Nidhi Chappell as its new president of AI infrastructure. She had most recently served as corporate vice president for Microsoft (MSFT) Azure AI and high-performance computing infrastructure. In the same month, Nscale hired Alice Takhtajan as its new chief financial officer. Takhtajan had more than 20 years of experience at J.P. Morgan.
And earlier this week, Nscale appointed Lauren Hurwitz as its new chief operating officer. Hurwitz worked at Palantir (PLTR) for nearly a decade, most recently as the head of its international public sector.