UK’s NexGen Cloud announces $1B investment in Europe’s first AI Supercloud: Know more.

One of Europe’s first AI Supercloud deployments will be built with funding from the UK-based NexGen Cloud, an elite member of the NVIDIA Partner Network and a sustainable Infrastructure-as-a-service provider. This announcement was made on Wednesday.

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The company has already agreed to pay $576 million to vendors for hardware orders. This investment aims to aid in the expansion and development of AI businesses across Europe.

Improving the European AI ecosystem

The AI Supercloud from NexGen Cloud is a specialized, high-performance computing platform for businesses, organizations, and governments in the technology sector.

Its main goal is to make carrying out resource-intensive AI applications and research easier while observing European legislation and privacy regulations.

To fulfill the rising demand for faster computing driven by AI applications, the AI Supercloud will launch in October 2023. Additionally, it would provide European businesses with affordable access to GPU cloud services, encouraging innovation and productivity.

The entirely renewable, energy-powered European AI Supercloud from NexGen Cloud will support the banking, media, and healthcare industries. By June 2024, it expects more than 20,000 NVIDIA H100 Tensor Core GPUs, giving businesses access to a potent GPU-accelerated platform for AI applications.

“AI is going to determine the economic success of countries and define the prosperity of their citizens,” claims Chris Starkey, CEO of NexGen Cloud. The AI Supercloud will enable companies to achieve competitive advantages in the upcoming technological revolution while operating under European law and benefiting from the data sovereignty and security it entails.

Starkey said, “We will create an AI Supercloud through our relationship with NVIDIA to ensure that European firms can be internationally competitive and ahead of the competition.

Obtaining funding for the AI Supercloud project

NexGen Cloud has partnered with Moore and Moore Investments Group (MMI) to finance its AI Supercloud initiative to establish a specialized fund. Private investors have contributed to this fund, supporting their efforts to create and introduce the AI Supercloud.

Over the next year, the project will be reachable via the Hyperstack platform. An NVIDIA GPU-accelerated cloud platform with direct-to-compute access, Hyperstack is designed for the European market.

Customers in Europe now have access to cutting-edge GPU-accelerated cloud services thanks to NexGen Cloud, which has already started taking pre-orders for its initial deployment in October.

“The advances 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,” says John Moore, director of MMI.

In addition to fulfilling computational demand, the Hyperstack AI Supercloud “represents a powerful way to drive AI use, democratizing access to some of the most powerful GPU systems on the market.”

“We believe firmly in the potential of this deployment and are excited to open up the opportunity in this venture to our investors,” Moore furthers.

Regarding NexGen Cloud

A sustainable European cloud infrastructure-as-a-service (IaaS) provider, NexGen Cloud was established in 2020 to create massive high-performance computing (HPC) and GPU infrastructure.

The business is well-known around the world and has an advantage in Europe. It owns some of the most sought-after chips, including the NVIDIA H100 Tensor Core GPUs, and has one of the biggest GPU fleets on the continent.

The goal of NexGen Cloud is to democratize access to accelerated computing on a global scale while focusing on cost, sustainability, and safety. The business is committed to promoting and advancing cutting-edge technology while tackling important issues in the present cloud industry, such as accessibility, pricing, and transparency.

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