Aker is making a splash in Oslo with a major contract in the US for its subsidiary Nscale

(Il Sole 24 Ore Radiocor) - Aker shares are rising on the Oslo Stock Exchange, buoyed by the major contract secured in the US by Nscale, in which it holds one of the largest stakes in its portfolio. Since the start of the year, the share price has risen by around 110 per cent. In a brief statement, Aker announced that “Nscale, its second-largest holding in its portfolio, has signed a major contract with an unnamed client to supply AI computing capacity at its Monarch site in the United States. The contract is worth a total of approximately 45 billion dollars”.

Nscale is a British data centre company specialising in artificial intelligence (AI). According to various news outlets, Nscale’s client is Anthropic, which plans to lease approximately 460 megawatts of capacity from Nscale’s Monarch data centre in West Virginia. The facility is expected to be operational by the end of 2027 and, according to reports, will use Nvidia’s Vera Rubin chips. It was recently reported that Nscale aims to raise up to $3 billion through an initial public offering (IPO) in the United States, which could take place as early as September. According to Aker’s website, the Norwegian company holds a 9.3 per cent stake in Nscale, representing 24.6 per cent of its portfolio assets at the end of the second quarter of 2026.