Aker-Nscale JV secures $6.2bn Microsoft AI infrastructure deal

Aker ASA and Nscale Global Holdings Ltd. today announced a binding five-year customer agreement with Microsoft Corp., valued at approximately $6.2 billion. This deal secures Microsoft's access to high-performance AI compute capacity, with staged deployments commencing in 2026 from Narvik, Northern Norway. The project emphasizes sustainability, utilizing secured grid capacity and entirely renewable electricity.

The agreement underscores Aker and Nscale's commitment to developing European-owned hyperscale AI infrastructure. Microsoft highlighted its dedication to delivering advanced AI services to customers across Norway and Europe, powered by renewable energy solutions. Nscale noted the project will be one of the largest GPU deployments globally, solidifying Narvik's strategic role in European AI.

The Aker-Nscale joint venture is progressing as planned, with formal establishment anticipated during the third quarter of 2025, subject to closing conditions. Cash flow generated from this significant contract is earmarked to support the project's substantial capital expenditures.