In this article: March 9 (Reuters) - The British company Nscale, an artificial intelligence group supported by Nvidia, announced on Monday that it has been valued at $14. 6 billion following a $2 billion raise in its latest funding round. The Series C funding round was led by Norway's Aker and 8090 Industries and included participation from Nvidia, Citadel, Dell, Jane Street, among others, according to the company's statement. The AI firm also revealed that former Meta executives Nick Clegg and Sheryl Sandberg, along with former Yahoo President Susan Decker, will join its board. This funding round precedes the AI group's preparations for an initial public offering (IPO).

Nscale Global has appointed Goldman Sachs and JPMorgan as underwriters for the offering, sources told Reuters earlier this year. However, the timeline for the potential IPO has not yet been determined, according to those sources. Founded in 2024, Nscale owns and operates its own data centres, graphic processing units (GPUs), and software stack to provide large-scale, GPU-powered AI compute. The additional funding will support the expansion of its data centre capacity to meet the growing demand for AI computing services from clients including Microsoft and OpenAI. (Reporting by Ruchika Khanna in Bengaluru; Editing by Harikrishnan Nair) Recommended Stories