NexGen Cloud, a UK leader in AI infrastructure, announced it has closed its Series A round, raising $45 million at a valuation of $354 million. Backed by high-net-worth individuals and family trusts, this funding will drive global expansion and enhance sovereign AI capabilities in Europe.
Since launching Hyperstack in 2023, NexGen Cloud generated £72 million in revenue (2023–2024), which was driven by a 380% rise in AI cloud revenue and a 2,272% surge in transactions.
With 90% GPU utilization, Hyperstack delivers on-demand enterprise-grade AI compute to over 10,000 users, including Red Hat, Ingenix.AI, Tyne, and ArchiLabs.
As an early mover in GPU Cloud, NexGen Cloud has created its own API, enabling partners to deliver scalable enterprise-grade computing through Hyperstack. And these partnerships span software development, clinical trials, and AI-driven design across AEC sectors.
The Series A funding will scale the infrastructure to meet high utilisation and soaring AI demand in Europe. And NexGen Cloud will also enhance its Full Stack Cloud to support production-ready AI for enterprises.
NexGen Cloud’s strategy focuses on building partnerships to broaden access to AI compute, particularly for large enterprises and governments. And the roadmap includes expanded infrastructure, new AI products for full-cycle development, and services like serverless inference on dedicated VMs, which enhance privacy and data security.
The company will also launch fine-tuning-as-a-service to streamline model customisation and optimise cluster resources, reinforcing its role in driving Europe’s digital transformation.
KEY QUOTES:
“NexGen has been an incredibly reliable partner as we’ve scaled our cloud marketplace. Their consistently dependable servers across all categories of GPU workloads — paired with top-tier support and performance — have been first class. We’re proud to be growing alongside their team and expanding fleet.”
- Ed Goode, CEO of Shadeform
“We are thrilled to have the backing of our esteemed investors who share our vision for a robust and sovereign AI infrastructure in Europe. This Series A funding is a pivotal step towards realising our goal of becoming the backbone for AI-powered solutions across the continent.”
- Chris Starkey, CEO and co-founder of NexGen Cloud
