NexGen Cloud raises $45M to enhance AI infrastructure in Europe

NexGen Cloud, a UK-based GPU cloud services startup, has successfully raised $45 million in Series A funding to enhance its AI infrastructure platform for European enterprises. Founded in 2020, the company transitioned from blockchain applications to GPU-as-a-Service, enabling on-demand access to high-performance computing resources for AI training and inference. The funding will be used to expand the company's infrastructure globally, particularly focusing on sovereign capabilities within Europe, which is increasingly important for data privacy and regulatory compliance. NexGen Cloud reported a 380% increase in AI cloud operations revenue over the past year, expecting total revenue to exceed $70 million by the end of 2024. With over 10,000 clients, including notable organizations such as Red Hat and Ingenix.AI, NexGen Cloud positions itself as a leader in the growing GPU-as-a-Service market, projected to escalate significantly by 2032. The company's proprietary Hyperstack platform offers a comprehensive range of AI infrastructure services tailored to modern enterprise needs.