On January 9, AI infrastructure company Nscale is negotiating a new round of financing of about $2 billion, working with Goldman Sachs and JPMorgan to advance the deal. Nscale was spun off from a cryptocurrency mining company in 2024 and provides AI computing infrastructure. The company raised over $1.5 billion in September-October 2025 and previously announced partnerships with Nvidia and OpenAI. Microsoft is building a $10 billion data center in Portugal with Nscale and local partners and plans to lease Nscale's data center capacity in Norway and the UK.