Aker Calls Microsoft Nscale Contract Loss Minor Ahead of IPO

Nov 4, 2026
Aker CEO Øyvind Eriksen described Microsoft's canceled Nscale compute contract as minor compared with the startup's wider portfolio.

Aker ASA CEO Øyvind Eriksen described Microsoft's withdrawal from a compute agreement with Nscale as a relatively minor contract in the startup's wider portfolio, according to tech.eu. Eriksen said the termination was expected and that Nscale had more than doubled its activity and contract portfolio since its Series C funding round.

Microsoft canceled its agreement to lease capacity at Nscale's planned data center in Loughton, Essex. The site is unlikely to receive a power supply before 2030.

Aker owns about 23 percent of Nscale. Its stake is valued at around $3.31 billion based on Nscale's $14.6 billion Series C valuation in March 2026. Nscale is preparing for a New York IPO that could value the company at $35 billion.

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