It’s not just Nscale. Here are all of Europe’s neoclouds, mapped

· Source: Sifted · Field: Technology & Digital — Artificial Intelligence & Machine Learning, Cloud Computing & IT Infrastructure · Depth: Novice, short

Summary

Europe is experiencing a surge in "neoclouds" – young companies establishing data centers to meet the escalating demand for computing power driven by the AI boom. These firms are attracting significant investment, with some raising hundreds of millions of dollars. Key players include Nscale, which secured a $100M Series A round in a $11.7M pre-seed, and Evroc, which raised $270M in 2023 and is building a flagship data center in Stockholm. Other notable neoclouds are Hydro, which raised $19M and operates in Iceland and Norway, and Lumina, founded in 2023 with $51.9M in funding. Deep Green, founded in 2023, has raised £135M and focuses on heat reuse by integrating data centers into district heating networks.

Key takeaway

For CTOs and VPs of Engineering evaluating AI infrastructure, the rise of European neoclouds presents new options beyond traditional hyperscalers. You should assess these specialized providers like Nscale, Evroc, and Deep Green for their capacity, geographic distribution, and sustainability features, particularly their heat reuse initiatives, to optimize your AI workload deployment and operational costs.

Key insights

Europe's "neoclouds" are rapidly expanding data center capacity to meet AI-driven computing demand.

Principles

Method

Neoclouds are building new data centers, often focusing on sustainable practices like heat reuse, to provide high-performance computing infrastructure for AI workloads.

In practice

Topics

Best for: CTO, VP of Engineering/Data, Director of AI/ML, Investor, AI Product Manager, Entrepreneur

Related on AIssential

Open in AIssential →

Editorial summary, takeaway, and curation by AIssential. Original article published by Sifted.