Aker-Nscale JV signs multi-billion dollar AI infrastructure agreement with Microsoft
Nscale Global Holdings Ltd., Aker ASA and Microsoft Corp. signed a binding 5-yr customer agreement marking a major milestone in the development of advanced European owned hyperscale AI infrastructure.
At a contract value of approximately $6.2 B, the agreement secures Microsoft's access to high-performance AI compute capacity to be delivered in staged deployments beginning in 2026. Located in Narvik, Northern Norway, the project will deliver the most advanced AI infrastructure powered by secured grid capacity and entirely renewable electricity.
Jon Tinter, President of Business Development and Ventures, Microsoft said, "This demonstrates our unwavering commitment to customers in Norway and across Europe, enabling us to deliver our latest and most advanced AI services. We're inspired by how Nscale and Aker are advancing AI infrastructure powered by renewable energy, and we're excited to work with European technology innovators to bring the benefits of scalable, sustainability-driven AI to Microsoft Cloud customers.
Josh Payne, founder and CEO of Nscale said, "This agreement demonstrates our continued ability to execute at scale and establishes a new benchmark for AI infrastructure. Delivering one of the largest GPU deployments in the world reflects the unprecedented demand for compute and confirms Narvik's role as a strategic hub for AI in Europe. It's a powerful testament of Nscale's approach – bringing together data centres, GPUs and orchestration to accelerate access to AI compute while ensuring efficiency, compliance and sustainability. We are excited to continue scaling our partnership with Aker with this milestone."
Øyvind Eriksen, President & CEO of Aker said, "This agreement with Microsoft – a long-standing partner to Aker – is a milestone for the joint venture with Nscale and for Norway's role in enabling sovereign AI infrastructure. It underscores our ambition of converting clean hydropower into strategic digital capacity, and positions Narvik as a launchpad for Europe's sovereign cloud. With trusted infrastructure, renewable power, and industrial readiness, Norway is stepping into a new era of value creation – one that is digital, secure, and globally relevant."
The Aker-Nscale joint venture continues to advance as planned and is expected to be formally established during the third quarter of 2025, subject to fulfilment of closing conditions.
Cash flow generated under the agreement will support funding of the project's capital expenditures. The agreement includes standard commercial terms and safeguards appropriate for a contract of this nature.
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