Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Aker, a Norwegian industrial company and Nscale, a UK-based data-centre developer, are set to create at least 250 permanent jobs at the planned Stargate Norway AI data-centre in Kvandal, Narvik (Nordland, Norway), developed in a 50/50 joint venture, established in October 2025. The joint venture will be headquartered in Oslo, Norway, with operational teams in Narvik. An analysis by Menon Economics estimates that this Aker-Nscale joint venture will create about 250 permanent on-site jobs (plus ~150 indirect jobs) and around to 4,000 FTE in net total during the construction phase, including suppliers and support functions.
Aker and Nscale have entered into partnership with OpenAI to build the data-centre, referred to as an "AI gigafactory" and part of the latter company's Stargate initiative. The parties have committed to investments of around USD 1bn (NOK 10bn) for the first phase of the project. The expansion is further supported by a recent five-year, USD 6.2bn customer agreement with Microsoft, with staged deliveries from 2026, an initial 230 MW capacity (application for +290 MW), and a goal to support up to 100,000 NVIDIA GPUs by end-2026. Northern Norway's cold weather and inexpensive electricity from renewable energy sources, partly due to incentives aimed at industrial companies, underpins the investment.
The data-centre expansion has sparked political debate as analysts forecast that it will contribute to rising future electricity prices and some question the small number of jobs created, relative to the scale of investments.
Eurofound (2025), Aker-Nscale, Business expansion in Norway, factsheet number 203347, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203347.
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