AI Insider·
Insider Brief Norwegian industrial software company OTee has raised €5.3 million in seed funding as it looks to expand its software-defined control platform for factories, utilities and other industrial operations. The round was led by North Ventures, with participation from Atlas SGR and existing investors RunwayFBU, Superangel and Antler, accordinng to the company. The company […]
Read full articleInsider Brief PRESS RELEASE — Nscale is pleased to announce an additional $790 million in financing — committed by ABN AMRO, DNB, Eksfin, Nordea and SEB — to reinforce the continued development of the AI data center in Narvik, Norway. This data center project is the largest AI infrastructure investment in Norway. The committed financing includes an additional $790 million uncommitted […]
In the space of one week, OpenAI has pulled out of two European Stargate data center deals, one in the UK and the second in Norway. Observers attribute the move to the company taking a more disciplined approach to its massive expenses, with OpenAI executives trying to make their books look better in a common move among companies preparing to go public with an imminent IPO. In Norway, OpenAI had been in talks with neocloud provider Nscale, but pulled out of those talks and the data center was instead leased by sometime-OpenAI partner Microsoft, according to sources involved in the discussions. Nscale and Microsoft on Wednesday confirmed the Norway deal, with a source familiar with the negotiations saying that Microsoft will rent the facility in Narvik, Norway, and will then provide compute power to OpenAI through an unspecified agreement. OpenAI did not respond to a request for comments. The UK data center pullout also seemed to reflect some financial belt tightening. Jeremy Roberts
