Information Technology
Northern Data Group releases audited 2023 Financial Results
During 2023, the Group secured USD1billion in debt and equity funding to meet the growing demand for HPC and the Generative AI boom.
Following the Group's announcement of its investment strategy in late 2023, 2024 is set to be a year of significant development - with the aim of firmly positioning the Group as a leading HPC solutions provider to meet growing demand for HPC and the Generative AI boom.
Northern Data Group has announced the following significant investments in 2024:
- EUR730 million investment to secure the largest cluster of NVIDIA H100 Tensor Core GPUs in
Europe .
- EUR110 million investment to grow its physical and operational data center footprint across the U.S. and
Europe .
- -
EUR140 million investment into Peak Mining, which is already being deployed into next-generation mining hardware and facilities.
Northern Data Group is expecting revenue in 2024 in the range of EUR200 million - EUR240 million – tripling 2023's revenue and supporting the Group's expectations of revenues of EUR520 million to EUR570 million in full-year 2025. Adjusted EBITDA for 2024 is expected to be in the range of EUR50 million – EUR80 million .
commented:
( ETR : NB2) is a leading provider of High-Performance Computing ( HPC ) solutions to businesses and research institutions, utilizing GPU- and ASIC-based solutions. Our flexible compute power fuels innovation in our three core business divisions: Taiga Cloud , Ardent Data Centers , and Peak Mining. Through our HPC solutions, we pioneer ambitious computing innovation that drives progress in the AI, ML and Generative AI industries. Our close collaboration with industry-leading manufacturers including Gigabyte, AMD , and NVIDIA is fundamental to the acceleration of innovation across sectors including life sciences, financial services, and energy.
Disclaimer:
This IR release contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management, and are based on information currently available to the management. Forward-looking statements shall not be construed as a promise for the materialisation of future results and developments and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, affecting the Company, and other factors. Neither the Company nor any of its affiliates assumes any obligations to update any forward-looking statements.
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