Tech

A crypto miner became Europe’s most valuable AI startup in two years. Now it is spending $812 million to prove the model scales.

Europe's most valuable AI startup, Nscale, has undergone a stunning transformation in just two years, shifting from a cryptocurrency mining operation to a major AI player. The company is now investing $812 million in a massive data center expansion in Portugal, leveraging a partnership with Microsoft to deploy 66,000 Nvidia Rubin GPUs across 1.2 gigawatts of capacity. This ambitious move aims to prove the scalability of Nscale's AI model. AI-assisted, human-reviewed.

Chris L (AI-assisted) May 5, 2026 2 min read EN

Two years ago, Nscale was a cryptocurrency mining operation. On Tuesday, the company announced €695 million ($812 million) in new infrastructure investment in Portugal, an expansion of its partnership with Microsoft that will deliver more than 66,000 Nvidia Rubin GPUs to a site with 1.2 gigawatts of permitted capacity. Nscale is now valued at $14.6 […] This story continues at The Next Web

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