Abu Dhabi Investment Council (Adic), wholly owned by Mubadala Investment Company, has invested in Nscale’s $3.4 billion fundraising round as the London-based AI data centre operator prepares for global expansion.
Nscale raised the capital through convertible loan notes in a round led by US hedge fund Third Point. The company will receive $2.4 billion at closing, alongside a further $1 billion commitment from Nvidia. Funding is expected in mid-November, according to the company’s statement.
The notes will convert into ordinary shares when Nscale completes an initial public offering. Nvidia’s notes will convert into non-voting shares. Adic did not disclose the size of its investment.
Nscale said it has more than $103 billion in total contracted value. Founder and chief executive Josh Payne said the investment would support the company’s data centre build-out globally.
The deal adds to Abu Dhabi’s growing exposure to AI infrastructure. Mubadala backed San Francisco-based AI infrastructure provider Crusoe in its $600 million funding round in December 2024. The wealth fund has also said it is targeting opportunities in AI and robotics.
Source: AGBI
