At a glance
- The report cites people close to the project and public records for the setbacks: construction delays, local regulations, cooling-system leaks and a transformer fire.
- Nscale is preparing an initial public offering, with reports suggesting it could seek a valuation of up to $35 billion.
- Nscale reports $103 billion in total contracted value, largely contracts with Anthropic and Microsoft.
Nscale's Glomfjord data center in Norway is about six months behind schedule, with 6.4MW of a planned 30MW operational, according to a Bloomberg report relayed by Data Center Dynamics.
The report cites people close to the project and public records for the setbacks: construction delays, local regulations, cooling-system leaks and a transformer fire. Bloomberg also reports that Nscale towed in the Kalmar floating hotel to house construction workers nearby, a step aimed at speeding construction.
Nscale is preparing an initial public offering, with reports suggesting it could seek a valuation of up to $35 billion. Its prospectus, published in September, lists five active data centers totaling 55MW, with 12 more in development, and includes construction delays, construction site accidents and permit delays among its risk factors.
Nscale reports $103 billion in total contracted value, largely contracts with Anthropic and Microsoft. Revenue for the six months to the end of June 2026 came to $140.6 million. The company says that figure is up 1,252 percent year over year. Losses were $1.02 billion, compared with $368.9 million in the same period of 2025.
Nscale's half-year loss dwarfed its revenue
Six months to end of June 2026, compared with the same period a year earlier
- H1 2026 net loss$1K
- H1 2025 net loss$368.9M
- H1 2026 revenue$140.6M
Show as table
| Item | Value ($M) |
|---|---|
| H1 2026 net loss | $1K |
| H1 2025 net loss | $368.9M |
| H1 2026 revenue | $140.6M |
Reported by the Data centers & fiber desk from Data Center Dynamics and Bloomberg (cited within the DCD report). Published . Corrections