Nvidia will invest £500 million in AI infrastructure company Nscale, which is a spin-off of a cryptocurrency mining company

ChainCatcher news, according to Bloomberg, NVIDIA CEO Jensen Huang revealed that NVIDIA will invest £500 million (approximately $683 million) in Nscale, stating that Nscale will be part of an artificial intelligence infrastructure development plan worth up to £11 billion.

It is reported that Nscale was established only 16 months ago and is a UK data center company spun off from a cryptocurrency mining company, Arkon Energy, last year. Nscale is one of the next-generation "new cloud" companies that operate and lease capacity in data centers specifically designed for artificial intelligence and other data-intensive workloads, and has established partnerships with companies such as Microsoft and OpenAI.

Nscale has disclosed little about its financing plans. Last December, the company announced the completion of a $155 million funding round led by New York private equity firm Sandton Capital Partners. A month later, the startup announced plans to invest £2 billion in computing facilities in the UK. The company stated that it is collaborating with Open Innovation AI, based in the United Arab Emirates, but did not disclose specific financing methods.