# Nscale, a crypto miner turned $14.6 billion neocloud, is investing €695 million in Portugal.

*semiconductor · news · 2026-05-05 · TNW*

## Key points

- Nscale is investing €695 million to supply 66,000 Nvidia Rubin GPUs to Microsoft's Sines site.
- Nscale transitioned from crypto mining to Europe's most valuable AI infrastructure company in 24 months.
- Nscale secured grid access for 1.2 gigawatts at Sines before regulatory constraints hit other EU data centres.
- Private capital, not EU sovereign programs, is funding Europe's AI infrastructure at a much larger scale.

**Companies:** Microsoft, Nscale, Nvidia
**Countries:** Portugal, United Kingdom, Norway, Iceland, United States

[Read the full story on TNW](https://thenextweb.com/news/nscale-portugal-microsoft-neocloud-ai-infrastructure)

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