Nscale lands $900M revolving credit line for AI data centre push
What's the deal? London-based Nscale has closed a $900 million revolving credit facility to fund its AI data centre build-out across the US, Europe, and APAC. The facility was syndicated across a dozen banks, including J.P. MorganDealroom has a profile for this one. Try Dealroom →, Goldman SachsDealroom has a profile for this one. Try Dealroom →, Morgan StanleyDealroom has a profile for this one. Try Dealroom →, and Bank of AmericaDealroom has a profile for this one. Try Dealroom →.
What does Nscale do? It is a full-stack AI cloud platform combining software, compute, and power, running AI training and inference on its own data centres. Its stated mission is to build "the engine of superintelligence."
Why does it matter? The size makes it one of the largest debt rounds ever raised by a UK AI company — placing it in the top 1% of such deals on record. A revolving facility gives Nscale flexible working capital on top of debt it has already secured.
Why now? The facility caps an aggressive 18-month financing run. Nscale has raised a $1.1 billion Series B, a $433 million pre-Series C SAFE backed by Dell, Nvidia, and NokiaDealroom has a profile for this one. Try Dealroom →, a $1.4 billion GPU-backed term loan, and a $2 billion Series C at a $14.6 billion valuation.
What they said: "We are building the infrastructure that the world's largest technology companies depend on to train, deploy, and scale AI," said chief executive officer and founder Josh PayneDealroom has a profile for this one. Try Dealroom →, adding that the facility "increases our flexibility to do that at speed and at scale."
The signal: Hyperscale AI players are now stacking equity rounds with GPU-backed loans, project finance, and revolving lines, treating AI infrastructure as a distinct asset class. Nscale's volume and pace put it at the aggressive end of that trend, and its widening bank syndicate signals deepening institutional appetite for the sector.
Read more: Bloomberg
Image credit: Nscale
