Nscale's $2 Billion Series C and the European Neocloud Buildout Reshaping AI Infrastructure
A crypto miner turned $14.6 billion AI infrastructure company in two years. Nscale's $2 billion Series C, the largest in European tech history, anchors a broader neocloud spending surge where CoreWeave reports $99.4 billion in revenue backlog, SpaceXAI leases 220,000 GPUs to Anthropic, and the entire sector is building gigawatt-scale AI factories with five-year contracts and 80%+ EBITDA margins.