UK-based NexGen Cloud, a sustainable Infrastructure-as-a-Service provider and an elite member of the NVIDIA Partner Network, announced on Wednesday that it plans to invest $1B (approximately €947.32M) to build one of Europe’s first AI Supercloud deployments.
The firm has already committed $576M to hardware orders with suppliers. This investment aims to support the development and growth of AI enterprises in Europe.
Enhancing the AI ecosystem in Europe
NexGen Cloud’s AI Supercloud in Europe is designed to offer a dedicated, high-performance computing platform for technology companies, organisations, and governments.
Its key purpose is to facilitate the execution of resource-intensive AI applications and research, while adhering to European jurisdiction and privacy laws.
The AI Supercloud, launching in October 2023, will meet the growing demand for accelerated computing driven by AI applications. It will also provide cost-effective access to GPU cloud services for European enterprises, promoting innovation and efficiency.
NexGen Cloud’s European AI Supercloud, powered by 100 per cent renewable energy, will support industries like healthcare, finance, and media. It plans to have over 20,000 NVIDIA H100 Tensor Core GPUs by June 2024, offering enterprises a powerful GPU-accelerated platform for AI applications.
Chris Starkey, CEO of NexGen Cloud, says, “AI is going to determine the economic success of nations and define the prosperity of their citizens. The AI Supercloud will empower businesses to gain competitive advantages in the next evolution of technology, all within the European jurisdiction and the data sovereignty and security that brings.”
“Through our collaboration with NVIDIA, we are going to deliver an AI Supercloud that will ensure that European enterprises can be globally competitive and ahead of competition,” adds Starkey.
Financing the AI Supercloud project
NexGen Cloud has partnered with Moore and Moore Investments Group (MMI) to create a specialised fund for financing its AI Supercloud project. This fund has garnered investments from private investors, bolstering their efforts to develop and launch the AI Supercloud.
The project will be accessible through the Hyperstack platform over the next year. Hyperstack is an NVIDIA GPU-accelerated cloud platform tailored for the European market offering direct-to-compute access.
NexGen Cloud has already started accepting pre-orders for its initial deployment in October, making advanced GPU-accelerated cloud services available to customers in Europe.
John Moore, director of MMI, says, “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.”
“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.”
“We believe firmly in the potential of this deployment and are excited to open up the opportunity in this venture to our investors,” adds Moore.
About NexGen Cloud
Founded in 2020, NexGen Cloud is a sustainable European cloud Infrastructure-as-a-Service (IaaS) provider with a focus on building large-scale high-performance computing (HPC) and GPU infrastructure.
The company has a global presence and a competitive edge in Europe. It boasts one of the largest GPU fleets on the continent, with ownership of highly sought-after chips like the NVIDIA H100 Tensor Core GPUs.
NexGen Cloud’s mission is to democratise access to accelerated computing on a global scale, emphasising safety, sustainability, and affordability. The company is dedicated to supporting and expanding emerging technologies while addressing key concerns in the current cloud market, including cost, transparency, and accessibility.