AI cloud provider Nscale has signed on to lease 15MW of capacity at Verne’s data center campus in Iceland.

The agreement will see Nscale deploying 4,600 Nvidia Blackwell Ultra GPUs across Verne’s campus through 2026. The GPUs will be 85 percent liquid-cooled and 15 percent air-cooled.

Verne’s Iceland campus is fully powered by renewable energy, and due to the climate, it can utilize natural free cooling. According to a data sheet, the campus spans 40 acres and has more than 140MW of IT capacity. The facility is also Nvidia DGX authorized.

Dominic Ward, CEO of Verne, said: “The pace of change in AI infrastructure is extraordinary. As the demand for GPU capacity accelerates, availability of clean, renewable power has become as important as raw performance. Partnering with Nscale, whose expertise is redefining how AI infrastructure is delivered responsibly at scale, demonstrates how the Nordics are fast becoming a strategic hub for sustainable AI growth.”

Philippe Sachs, chief business officer and president of EMEA, Nscale, added: “As compute demand grows, we’ve worked with partners throughout the world and the Nordic region to deliver sustainable solutions to meet that demand. The Nordics offer a uniquely sustainable foundation – abundant renewable energy and natural cooling. With our existing operations in Norway, we’ve seen first-hand how the region powers low-carbon, sovereign-grade AI infrastructure, Verne has been an exceptional partner – agile, technically rigorous, and aligned with our long-term sustainability vision.”

Verne operates data centers in Iceland, Finland, and the UK. The company was acquired by Ardian in 2024. Last month, Ardian raised $20bn for its infrastructure platform dubbed Ardian Infrastructure Fund VI (AIF VI).

Nscale has been expanding rapidly of late, having signed an agreement with Microsoft to provide the cloud giant with 116,000 Nvidia GB300 GPUs, as well as deploying a cluster in Portugal, and signing a deal to provide compute to Microsoft in Norway.

The company has also raised $1.1 billion in September 2025, and $433m in Series C SAFE funding in October.