NexGen Cloud is preparing to channel $1 billion into the development of Europe's first AI Supercloud project.
In Brief
NexGen Cloud has confirmed its plans to invest $1 billion aimed at establishing an AI Supercloud in Europe.
To date, the company has invested $567 million in hardware from various suppliers.
NexGen Cloud NexGen Cloud, a provider of infrastructure-as-a-service in Europe, has committed $1 billion to realize the first AI Supercloud on the continent, previously allocating $567 million for hardware procurements.
The AI Supercloud is designed to offer a robust, high-performance computing environment specifically curated to serve technology firms and government agencies. Its key mission is to facilitate the deployment of demanding AI applications and research endeavors while ensuring alignment with European regulations on privacy and data protection.
Expected to launch in October, this AI Supercloud aims to meet the surging compute demand triggered by the rapid uptake of generative AI and various other AI technologies. Additionally, it will provide European businesses accessible and economical GPU cloud solutions tailored to the regional market.
NexGen has mentioned that the services associated with the AI Supercloud will be completely powered by renewable energy sources. The firm also plans to acquire over 20,000 NVIDIA H100 Tensor Core GPUs by June 2024 for this undertaking.
As a member of the NVIDIA Partner Network, NexGen is joining forces with the AI computing giant to bring the AI Supercloud to fruition. Back in August, NexGen began leveraging NVIDIA GPUs to enhance its cloud platform, specifically tuned for the European demographic. launched Hyperstack \"The NexGen Cloud AI Supercloud will equip businesses across Europe with high-end computing capabilities, unlocking the full potential of AI and high-performance computing advancements to maintain their edge in a rapidly changing global marketplace,\" stated Jaap Zuiderveld, VP of sales and marketing for EMEA at NVIDIA.
To support this project financially, NexGen Cloud has teamed up with Moore and Moore Investments Group (MMI) to form a specialized fund, which has successfully attracted contributions from private investors.
"Recent advancements in AI technologies and large language models signify a pivotal moment for businesses, though these innovations have largely been out of reach for private investors until now,\" a spokesperson noted.
"The Hyperstack AI Supercloud presents a compelling method to increase AI utilization, addressing computing demands while making powerful GPU systems more accessible on the market,\" they added.
said John Moore, director of MMI.
Over the next year, users will be able to access the AI Supercloud through NexGen Cloud's Hyperstack platform. The company has already commenced taking pre-orders for the AI Supercloud set to launch in October.
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Disclaimer
In line with the Trust Project guidelines Cindy is a journalist covering web3, NFTs, metaverse, and AI topics at Metaverse Post, with a keen interest in interviewing industry leaders in Web3. Having conducted interviews with over 30 C-level executives, she shares critical insights with her audience. Originally hailing from Singapore, she now resides in Tbilisi, Georgia, holding a Bachelor's degree in Communications & Media Studies from the University of South Australia, with a decade of experience in journalism.
