TechFlow news — On December 10, Nscale, the European AI cloud company under bitcoin mining firm Arkon Energy, raised $155 million in a Series A funding round. The financing was led by Sandton Capital Partners, with participation from Kestrel, Bluesky Asset Management, and Florence Capital, and will support its expansion plans across Europe and North America.
Nscale officially launched in May 2024. The company offers GPU cloud services based on AMD hardware, specifically AMD's Instinct M1300X accelerators as well as AMD MI250 GPUs, alongside Nvidia's A100, H100, and V100 GPUs.
The company said it has expanded its greenfield data center capacity across Europe and North America from 300MW to 1.3GW, with plans to develop 120MW by 2025. Nscale expects to launch a public cloud service in the first quarter of 2025, enabling developers to access purpose-built inference and training solutions within a flexible development environment.
