London-based startup Nscale is aggressively positioning itself in the booming AI infrastructure sector. According to documents reviewed by Bloomberg, the company is seeking to raise roughly $2.7 billion to develop a worldwide network of data centers powered by Nvidia’s high-performance chips. GuruFocus reports that the financing plan includes a $1.8 billion private credit facility, reportedly led by Goldman Sachs, and an additional $900 million through a combination of preferred equity and convertible instruments.

Nscale is betting on sustained growth in AI adoption to drive its rapid global expansion, even as economic uncertainty lingers, particularly following recent tariff developments by the Trump administration. Investor discussions reportedly began before the latest market volatility, so the structure of the funding deal may still evolve in response to economic shifts.

Khac Phu Nguyen of GuruFocus notes that a key component of Nscale’s strategy is a potential $2 billion agreement with ByteDance, the Chinese parent company of TikTok. The deal, currently under negotiation, would see ByteDance lease Nvidia’s next-gen GB200 chips housed in Nscale’s data centers in Norway. While ByteDance has confirmed the discussions, it has suggested the reported valuation may be overstated. Khac highlights a larger trend here: 

“Chinese tech companies bypass U.S. chip restrictions by leasing compute power abroad.”

In a bid to outpace competitors in the AI space and strengthen its financing strategy, Nscale is offering collateralized loans backed by Nvidia chips, data center leases, and customer contracts.