Podcast Summary: Bloomberg Talks — Former Meta COO Sheryl Sandberg and NScale CEO Josh Payne Talk Nscale
Date: March 23, 2026
Host: Bloomberg (Caroline)
Guests: Sheryl Sandberg (Former Meta COO, Nscale Board Member & Advisor), Josh Payne (CEO, Nscale)

Episode Overview

This episode centers on the meteoric rise of Nscale, a UK-based AI data center developer, and explores the unique infrastructure powering the next wave of artificial intelligence. Fresh off a $2 billion funding round that values the company at $14.6 billion, CEO Josh Payne and high-profile board addition Sheryl Sandberg discuss Nscale’s ambitious vision, operational strategy, commitment to diversity and clean energy, as well as the global expansion of AI infrastructure.

Key Topics & Insights

1. The Urgency for AI Infrastructure

[01:35]

• Josh Payne describes the scale and importance of the current technological moment:
  • “This is the fourth industrial revolution. This market is moving so fast and we're still at the beginning. We're talking about a technology that is going to lead to automized automated drug discovery, the extension of human life, truly autonomous agents. And the only thing that prevents that future is access to the scarce resource, which is the compute. And so N Scale solves this problem.”
• Nscale’s primary mission: to build, deploy, and operate the critical AI compute infrastructure the world needs.

2. Sheryl Sandberg's Motivation to Join Nscale

[02:22]–[04:18]

• Sheryl shares initial reluctance and what changed her mind:
  • “The funny part of the story starts with his part, which is, well... so thinking about how I build the next great platform, what was most important to me is speaking to executives that have built great platforms before of global scale... I tried for some time to get an introduction to Sheryl and upon finally doing so, we scheduled a 30 minute call and the first thing she said to me was, ‘I don't do boards and I don't do these calls.’” (Josh Payne, [02:29])
  • “But what I saw in Josh, 90 minutes into our 30 minute phone call, was what I considered real visionary leadership. Over the next few weeks... he went away and he wrote a letter to his management team. And the only person I'd ever seen write like that was Mark Zuckerberg. This combination of a relentless, relentless desire for greatness, relentless desire for execution... So the opportunity to work with a founder I believe in, I joined right as the company was about 300, 400 people. So that same spot and try to take some of the lessons we've learned and help a company. I believe in this much. Scale really matters.” (Sheryl Sandberg, [03:18])
• Sandberg’s faith in AI's potential:
  • “AI is going to mean that anyone in a remote village, anywhere in the world, could get skin cancer diagnosed at the same efficacy rate as someone in the Mayo Clinic. But that is going to take a build out and a build out of infrastructure and compute.” ([03:53])

3. What Sets Nscale Apart: Vertical Integration

[04:18]–[05:32]

• Josh Payne highlights Nscale’s unique approach:

  • “We are fully vertically integrated... the true scarcity, given the demand in the sector, is the land, the power and then, and then the chips. And so by and large, the NEO cloud sector is not really vertically integrated in that they don't own their own land and power. Nscale does.” ([04:37])
  • Nscale owns the land, the power sources, the chips, and the software, providing an end-to-end product.

• Acquisition news:

  • “We recently acquired a company called American Intelligence Corporation in West Virginia, which adds an even further segment to that, which is the ownership of the power... means it's not connected to the local grid and therefore subject to any kind of price increases for consumers.” ([05:02])

4. Sandberg’s Role, Impact and Diversity Focus

[05:32]–[07:16]

• Operational involvement:
  • “I've joined as both a board member, as an advisor. I'm spending real time with Josh and his team. I have no plans to go on board for time. They have an incredible exec team and my goal is to help them scale, help figure out how we structure, how we do corporate governance.” ([05:56])
• Building a strong, diverse team:
  • “A really strong team of senior women—head of infrastructure, CFO, head of security... Josh before me hired who he considers the best people. A lot of great women in those jobs.” ([07:07])

5. Sustainability and Clean Energy

[07:16]–[09:04]

• Sandberg and Payne discuss Nscale’s steps toward sustainability:
  • “The company thesis is to take sustainable energy and convert it into intelligence. So we first do this in the north of Norway. We operate in the north of Norway using only hydropower... But the challenge is it can't be exported and so it's got to be consumed in region. So Nscale is building some of the largest infrastructure projects on the European continent in the north of Norway, taking otherwise stranded energy and converting it to intelligence.” (Josh Payne, [07:38])
  • Texas: similarly leveraging abundant renewables in remote areas.
  • West Virginia: unique creation of energy using behind-the-meter natural gas generators to avoid grid strain and price impacts.

6. Nscale’s Expanding Global Vision

[09:04]–[10:13]

• Global ambitions and operations:
  • “Certainly this is global, right? This is a global company started in London and continuing to expand all over the world.” (Sheryl Sandberg, [09:37])
  • “Today we're operating in five countries. We have plans for 15... North America is the center of the universe for artificial intelligence... as Cheryl said, this is a global market and I'm spending most of my time on a plane as a result.” (Josh Payne, [09:49])

Notable Quotes

• Josh Payne, on the AI revolution:
  • “This is the fourth industrial revolution... the only thing that prevents that future is access to the scarce resource, which is the compute.” ([01:35])
• Sheryl Sandberg, on joining Nscale:
  • “The only person I'd ever seen write like that was Mark Zuckerberg. This combination of a relentless, relentless desire for greatness, relentless desire for execution.” ([03:18])
• Sheryl Sandberg on AI’s impact:
  • “AI is going to mean that anyone in a remote village, anywhere in the world could get skin cancer diagnosed at the same efficacy rate as someone in the Mayo Clinic.” ([03:53])
• Josh Payne on differentiated strategy:
  • “By and large, the NEO cloud sector is not really vertically integrated in that they don’t own their own land and power. Nscale does.” ([04:37])
• Sheryl Sandberg on diversity:
  • “A really strong team of senior women—head of infrastructure, CFO, head of security... A lot of great women in those jobs.” ([07:07])
• Josh Payne on global reach:
  • “We’re operating in five countries. We have plans for 15... this is a global market and I'm spending most of my time on a plane as a result.” ([09:49])

Timeline / Timestamps for Key Segments

• [00:44]: Introduction — Nscale’s recent growth and round of funding
• [01:35]: Josh Payne outlines Nscale’s mission in the fourth industrial revolution
• [02:22]–[04:18]: Sheryl Sandberg recounts her introduction to Nscale & why she joined
• [04:18]–[05:32]: Vertical integration and strategic acquisitions
• [05:32]–[07:16]: Sandberg’s board/advisor role, company’s diversity leadership
• [07:16]–[09:04]: Sustainability strategies in Norway, Texas, and West Virginia
• [09:04]–[10:13]: Global ambitions and the significance of the US/Europe/Middle East

Memorable Moments

• Sheryl Sandberg initially refused the board call: “I don’t do boards and I don’t do these calls.” ([02:53])
• The switch from a scheduled 30-minute call to a 90-minute conversation that led to her joining.
• The clear focus from both guests on building infrastructure that is clean, sustainable, and inclusive.

This episode provides a comprehensive look into Nscale’s rise, with deep insights from two tech leaders—offering listeners a window into the future of AI, the infrastructure arms race, global business expansion, and high-level operational leadership.