A Cayman Islands investment consultancy firm has secured an exclusive opportunity to invest in AI infrastructure to finance a new European Supercloud in Norway.
Moore & Moore Investments Group Limited (MMI) has partnered with UK-based NexGen Cloud Ltd to build a Supercloud powered by over 5,000 H100 General Processing Units, supplied by technology giant NVIDIA.
The Supercloud will come online in mid-2024 in a dedicated datacentre in Oslo that is 100% powered by renewable electricity.
A USD$300m Cayman Islands domiciled fund, Moore & Moore Servers LP, will generate yield for investors by renting out the Supercloud’s processing power through NexGen’s on-demand platform Hyperstack.
Chris Starkey, the CEO of NexGen Cloud, said: “AI is now allowing businesses to evolve at unprecedented speeds, making internal processes swifter and more efficient, and analysing their data to unlock deep insights. Generative models, such as ChatGPT, are growing exponentially and disrupting almost every industry creating huge demand for processing power.
As an elite partner of NVIDIA, we are levelling the playing field and democratising AI, by giving start-ups and established businesses the kind of access to GPU computing power that was previously only available to big companies with big budgets. We’re making them affordable and accessible.”
Starkey continues: “By combining our technological expertise with MMI’s investment know-how and extensive investor network, this partnership is set to elevate Europe’s entire AI ecosystem and begin a new era of access to AI technology where accelerated computing is within the grasp of every daring innovator.”
MMI director and founder John Moore, adds: “General Processing Units – or GPUs – are the backbone of the AI revolution but hyperscalers like Google, Microsoft and Amazon were snapping up the compute power before investors got a look in. Our partnership with NexGen is tearing down these walls, presenting GPUs as a new asset class. If AI is experiencing a gold rush, GPUs are the proverbial shovel, so I’m excited to be bringing this cutting-edge technology asset to our network.”
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