Nscale Secures $3 Billion in Term Loans for AI Infrastructure in Texas and North Carolina

London-based Nscale announced on August 31, 2026, that it closed approximately $3 billion in aggregate commitments across two senior secured delayed draw term loan facilities. [1] These loans back a pair of United States artificial intelligence infrastructure projects located in Ward County, Texas, and Madison, North Carolina. [1]

Both loan facilities received investment-grade ratings with stable outlooks. [1] The facilities will primarily fund the deployment of GPU infrastructure, networking, storage, and liquid-cooling equipment across both campuses. [1]

The Ward County facility provides up to $1.85 billion to fund the deployment of NVIDIA GB300 and VR200 systems, supporting approximately 275 megawatts of IT load. [1] Nscale describes this greenfield campus as a purpose-built site that combines closed-loop direct liquid cooling with rear-door heat exchangers. [1]

The second facility provides up to $1.2 billion for a 96-acre colocation property in Madison with up to 40 megawatts of capacity. [1] Unlike the Texas campus, the North Carolina project centers on retrofitting an existing site, with the debt package covering physical upgrades and compute hardware. [1]

Nscale's use of delayed draw term loans allows the company to access capital progressively as it deploys equipment across its two sites. The decision to deploy both NVIDIA GB300 (Blackwell Ultra) and VR200 (Vera Rubin) systems illustrates a commitment to spanning successive generations of hardware within a single 275 MW campus. This massive capital injection underscores the intense infrastructure requirements of next-generation AI, demanding specialized liquid cooling and extensive retrofits of existing colocation sites. What the sources don't address: How quickly Nscale plans to draw down the $3 billion in commitments to complete these hardware deployments.