Frankfurt/Main – 21 October 2024 – Northern Data Group intends to increase its operations in AI and High-Performance Computing (HPC) solutions instead. Peak Mining is the company’s crypto mining arm, which it intends to sell.
Now, this possible sale is coming after the business had three-quarters of sustained growth in its AI Solutions unit, which also includes Europe’s largest Generative AI Cloud platform.
This change of direction underscores Northern Data’s commitment to growing AI solutions. These funds will be used to further invest in AI infrastructure.
That would mean broadening its scope of advanced data centers and acquiring more AI GPUs for its needs. The company has also set a target to increase the Dynamics of Enablement Services which include new software features and managed services to aid in AI adoption by businesses.
“Mining is a foundational part of Northern Data’s heritage and growth story. We remain supporters of blockchain technology and continue to believe in its potential.”
Said Aroosh Thillainathan, Chief Executive Officer of Northern Data Group.
“This commitment means identifying the right steward for this valuable business is of absolute importance, as we solidify our focus on powering AI innovation through best-in-class infrastructure and carbon-neutral energy systems.”
COO Rosanne Kincaid-Smith agreed in regard to the evolution of AI with the companies detailing Northern Data’s approach:
“As AI reshapes industries, Northern Data is focused on leading the charge at the forefront of the AI revolution. Our goal is to provide a seamless AI ecosystem where customers can access intelligent, sustainable solutions that enable their businesses to harness AI’s full potential; and provide the tools they need to make the breakthroughs that have the potential to change the course of history. As a business we are excited about the progress in the AI landscape, its impact across industries and our role in driving that progress.”
This step confirms a coherent strategic focus as Northern Data now seeks to be an AI solutions provider only. This step consolidates Northern Data’s position at the pinnacle of the evolving AI scene.
The management is confident that such a deployment will allow them to be well-placed in the rapidly developing AI and HPC sectors.
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