NexGen Cloud to Invest $1B in Europe’s First AI Supercloud Project
In Brief
NexGen Cloud announced that it will invest $1 billion to build an AI Supercloud in Europe.
The company has already spent $567 million on hardware orders with suppliers.
NexGen Cloud, a European infrastructure-as-a-service provider, today announced that it will invest $1 billion to build the first AI Supercloud in Europe. The company has already allocated $567 million towards hardware orders from its suppliers.
The AI Supercloud aims to provide a dedicated, high-performance computing platform tailored to meet the needs of technology businesses and governmental entities. Its objective is to streamline the deployment of resource-intensive AI applications and research activities while maintaining compliance with European laws and privacy regulations.
Scheduled for deployment in October, the AI Supercloud will be rolled out to address the increased demands for computing, driven by the widespread adoption of generative AI and various other AI applications. Furthermore, it will ensure European enterprises convenient and cost-effective access to GPU cloud services on a regional scale.
NexGen said that the AI Supercloud services will be powered by 100 per cent renewable energy. The company also intends to acquire more than 20,000 NVIDIA H100 Tensor Core GPUs by June 2024 for the project.
As a member of the NVIDIA Partner Network, NexGen is collaborating with the AI computing company to deliver the AI Supercloud. In August, NexGen launched Hyperstack, a cloud platform accelerated by NVIDIA GPUs, providing access to GPU-accelerated computing tailored for the European market.
“The NexGen Cloud AI Supercloud will provide businesses across Europe with access to this high-end compute power, unlocking the true potential of AI and high-performance computing innovations to help them stay competitive in an evolving global economy,” Jaap Zuiderveld, VP of sales and marketing for EMEA at NVIDIA, said in a statement.
To fund this project, NexGen Cloud has partnered with Moore and Moore Investments Group (MMI) to establish a dedicated fund. This fund has successfully attracted investments from private investors.
“The breakthroughs in AI technology and large language models in the past year represent a major moment for enterprises but has so far remained inaccessible to private investors,”
said John Moore, director of MMI.
“The Hyperstack AI Supercloud represents a powerful way to drive AI use, meeting compute demand, while also democratising access to some of the most powerful GPU systems on the market.”
The AI Supercloud will be accessible via NexGen Cloud’s Hyperstack platform over the next year. NexGen Cloud has already started accepting pre-orders for the AI Supercloud’s deployment in October.
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Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
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Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
