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      Mubadala unit invests in UK AI infrastructure company

      Abu Dhabi Investment Council (Adic), wholly owned by Mubadala Investment Company, has invested in the multi-billion-dollar fundraising round of London-based artificial intelligence data centre operator Nscale.

      The investment extends Abu Dhabi’s growing exposure to the infrastructure underpinning AI, with Mubadala and other state-backed investors putting capital into data centres, cloud computing and AI companies.

      Nascale has raised $3.4 billion through convertible loan notes, led by US-based hedge fund Third Point. It will receive $2.4 billion at closing and an additional $1 billion commitment from US tech major Nvidia, with funding expected in mid-November 2026, it said in a statement.

      No details were disclosed on Adic’s investment in the fundraising. The wealth fund was set up in 2007, targeting private equity, capital solutions, real assets, public markets and secondaries sectors.

      The loan notes are convertible into ordinary shares automatically upon completion of Nscale’s initial public offering. Nvidia notes will convert into non-voting shares.

      “We continue scaling our full-stack AI infrastructure to meet unprecedented global demand,” said Josh Payne, founder and CEO of Nscale. “With the backing of these world-class investors, we are strongly positioned to accelerate our data centre buildouts globally.”

      Nscale has more than $103 billion in total contracted value.

      In January, Mubadala group CEO Khaldoon Al Mubarak said the $330 billion wealth fund was targeting opportunities in AI and robotics. It backed Crusoe, a San Francisco-based AI infrastructure provider, in its $600 million funding round in December 2024.

      The UAE has joined Pax Silica, a US-led coalition that aims to secure cross-border infrastructure and supply chains for the AI era.

      Mubadala, ADQ and AI-focused developers and investors such as G42 and MGX are engaging with a range of US partners, from Nvidia to OpenAI, in a bid to win the global technology race.

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      Source: AGBI
      .

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