Nick Clegg becomes part of the UK’s leading data centre company

Nick Clegg and Sheryl Sandberg Join Board of Leading AI Data Centre Firm

Sir Nick Clegg announced his departure from Meta shortly before Donald Trump assumed the presidency last year. — Chris J Ratcliffe/Bloomberg

Sir Nick Clegg, along with Sheryl Sandberg, who previously served as his superior at Meta, have both become board members of a technology company that is developing what will be the largest AI data centre in the UK.

The former deputy prime minister is joining the board of NScale at a time when the company has reached a valuation of $15 billion (£11 billion) after securing $2 billion in new funding, making it one of the most valuable tech firms in Britain.

Sir Nick stepped down from his role as Meta’s president of global affairs last year. Following Donald Trump’s election win, Joel Kaplan, a Republican lobbyist, succeeded him in the position.

Sheryl Sandberg, who was Mark Zuckerberg’s right-hand executive for 14 years, left Meta in 2022 to dedicate more time to philanthropic efforts. She will also act as an adviser to NScale.

NScale, which originated as a cryptocurrency mining venture just two years ago, has quickly attracted billions in investment as the need for AI infrastructure grows rapidly.

On Monday, NScale revealed it had raised $2 billion from investors such as Nvidia, Dell, and Nokia. The funding round was led by Norway’s energy leader Aker and the American investment group 8090 Industries.

This investment marks the largest “Series C” funding round ever recorded in Europe, representing the company’s third major fundraising effort and coming only six months after a previous $1 billion round. NScale has also received loans from Blue Owl, a US investment firm that recently restricted investor withdrawals.

The company has announced plans to establish facilities in Norway, the United States, and Portugal. In the UK, it is preparing to construct the country’s largest AI data centre in Essex through a partnership with Microsoft, and will also manage OpenAI’s “Stargate” project.

Despite these ambitious plans, NScale has yet to complete an AI data centre, drawing some scrutiny. The company is among a new wave of “neocloud” businesses aiming to challenge established cloud giants like Amazon, Microsoft, and Google.

NScale is headed by Josh Payne, a 33-year-old former coal miner who shifted his career to focus on data centres after relocating from Australia to London.

Speaking to the New York Times, Ms. Sandberg noted similarities between Josh Payne and Mark Zuckerberg, recalling that Zuckerberg was just 23 when he hired her at Facebook.

“Every market and business faces its own risks, and NScale will certainly encounter its share of challenges,” Sandberg said. “My role on the board is to draw on my experience to help Josh navigate these obstacles.”

Sir Nick Clegg revealed his decision to leave Meta last year, just days before Donald Trump’s inauguration, stating it was the “right time” for his departure. He has also accepted a position at the venture capital firm Hiro Capital.