UK-based artificial intelligence infrastructure provider Nscale has secured $1.1 billion in a Series B funding round, marking the largest such investment in UK and European history. The financing was led by Norwegian investment company Aker ASA, with continued support from existing shareholders including Sandton Capital, and participation from Blue Owl Managed Funds, Dell, Fidelity Management & Research Company, G Squared, Nokia, NVIDIA, Point72 and T.Capital.

The oversubscribed funding round will accelerate Nscale's expansion across Europe, North America, and the Middle East. The capital injection follows recent announcements of Nscale's UK AI infrastructure commitment with Microsoft, NVIDIA, and OpenAI, as well as the Nscale-Aker ASA joint venture that includes Stargate Norway and a multi-billion-dollar agreement with Microsoft. The company plans to use the funds to roll out its "AI factory" data centers for projects like Stargate UK and Stargate Norway.

Aker ASA injected $285 million in cash and assets, taking a 9.3% stake in Nscale, with a potential future earn-out that could increase Aker's ownership to 12.2%. The Norwegian group also noted that its 50% stake in the Aker-Narvik joint venture can be converted into additional Nscale shares at a future initial public offering. This significant investment comes as OpenAI announced in July it would build its first European data center in Norway's Arctic city of Narvik, jointly with Nscale and Aker.

Headquartered in the UK and operating globally, Nscale provides vertically integrated computing, networking, storage, managed software, and AI services delivered through its owned and collocated data centers. The company's full-stack, GPU-first model positions it to capitalize on the growing demand for AI-native infrastructure as industries worldwide accelerate their adoption of artificial intelligence technologies.

Swedish digital asset manager Virtune has launched what it claims is Europe's most cost-efficient Sui exchange-traded product (ETP) on Euronext Paris, marking another step in the company's expansion across European markets. The Virtune Sui ETP, with the ticker VRTU, provides investors with exposure to the Sui cryptocurrency through a regulated, physically backed investment vehicle. This launch comes as Virtune continues to build its position as one of the leading issuers of regulated crypto ETPs in Europe.

The new ETP features an industry-leading 0.95% annual management fee, making it the most cost-efficient Sui ETP available to European investors. Virtune plans to further expand the product's distribution by listing it on local German exchanges, including gettex and Tradegate, to improve accessibility for German investors. The company has established itself as a trusted provider in the digital asset space, serving over 150,000 investors since its launch just over two years ago.

Security and regulatory compliance remain central to Virtune's approach, with Coinbase serving as the crypto custodian for all of the company's ETPs. The underlying crypto assets are held in cold storage, providing institutional-grade security for investors. This infrastructure supports Virtune's commitment to offering European investors secure, transparent, and regulated access to digital asset markets through traditional investment channels.

Christopher Kock, CEO of Virtune, emphasized the company's mission to make innovative digital assets more accessible to investors. "We are excited to launch the most cost-efficient Sui ETP in Europe, reinforcing our mission to make innovative digital assets more accessible to investors," Kock stated. The launch strengthens Virtune's position as it manages more than $475 million in assets across its product offerings, continuing its growth trajectory in the European digital asset management landscape.