British AI infrastructure provider Nscale has signed contracts with Microsoft to supply and operate roughly 200,000 Nvidia GB300 GPUs across facilities in the US and Europe, in what the company described as one of the largest AI infrastructure agreements to date.

Nscale said the expanded partnership spans four countries and will be delivered through its owned operations and a joint venture with Aker ASA. The deal includes about 104,000 GPUs for a ~240MW campus in Texas, planned to begin phased delivery from the third quarter of 2026, and approximately 12,600 GPUs at Start Campus in Sines, Portugal from the first quarter of 2026. Microsoft also holds an option on a second phase of 700MW in Texas starting in late 2027, with the campus targeted to scale to 1.2GW over time.

The Financial Times reported the agreement could be worth up to $14 billion, based on comparable per-GPU contract values. The paper added that Nscale’s latest contracts build on an existing $6.2 billion arrangement to deploy 52,000 Nvidia GPUs in Norway, as well as plans announced in September to deliver the UK’s largest Nvidia AI supercomputer at Nscale’s Loughton AI Campus, housing around 23,000 GB300 GPUs from the first quarter of 2027. Nscale has raised $1.5 billion in new funding over the past month, valuing the company at about $3 billion, according to the FT.

Josh Payne, Nscale’s founder and chief executive officer, said: “Nscale is proud to partner with Microsoft on this historic AI infrastructure contract. This agreement confirms Nscale’s place as a partner of choice for the world’s most important technology leaders. Few companies are equipped to deliver GPU deployments at this scale, but we have the experience and have built the global pipeline to do so.”

Jon Tinter, Microsoft’s president of business development and ventures, said: “Together with Nscale, Microsoft is delivering cutting-edge AI infrastructure for our customers. Our agreement, announced today, demonstrates our commitment to ensuring that our products are available globally with sustainability and scalability in mind. Nscale is an ideal partner for this mission, given its deep expertise in providing AI infrastructure services at scale.”

The FT noted investor debate over whether AI data centre buildouts are overheating, while quoting Nvidia’s chief executive Jensen Huang from last month as saying the chipmaker would invest £500 million in Nscale and calling it a “national champion for the UK”. Payne told the FT the larger risk was power availability rather than demand, saying the company had “almost sold out our capacity for the next 12 months”.

---