Sept 9 (Reuters) - Swedish digital infrastructure provider EcoDataCenter has secured 600 million euros ($703.5 million) in debt financing from Deutsche Bank (DBKGn.DE), opens new tab to expand its AI data centres, it said on Tuesday, as demand for high-performance computing surges amid the AI boom.
The funding, provided by Deutsche Bank through its Private Credit and Infrastructure unit, will accelerate the construction of large-scale data centres in Falun and Borlange, north of Stockholm, designed to support AI workloads and other compute-intensive applications.
Learn about the latest breakthroughs in AI and tech with the Reuters Artificial Intelligencer newsletter. Sign up here.
Advertisement · Scroll to continue
Report This Ad
CEO Peter Michelson, a former Ericsson executive, told Reuters that the funding would provide the company with a two-year runway within its current plans, but added that as demand continues to soar, the company was likely to expand further.
"If we were to stop building tomorrow, we would be a highly profitable company...but we obviously have ambitions for much more than that," he said.
"Given where the market is heading, I wouldn't be surprised to see that there will be a further acceleration of that, which also would mean more capital (is) needed."
Data centre build-out has exploded in recent years as tech firms race to support increasingly complex AI models, which rely on a new generation of power-hungry infrastructure.
Advertisement · Scroll to continue
Report This Ad
Tuesday's funding news comes a few months after its owner, Swedish fund manager Areim, secured 450 million euros for the company. Since 2023, the company and Areim have raised a total of 1.8 billion euros in financing.
Sweden has emerged as a hub for data centre investment, with firms such as Microsoft (GOOGL.O), opens new tab, Meta (META.O), opens new tab and Alphabet (GOOGL.O), opens new tab expanding in the country, drawn by its reliable power grid and connectivity.
The company opened its first facility in 2019 and has since attracted clients such as German translation start-up DeepL and carmaker BMW (BMWG.DE), opens new tab.
Last year, the company partnered with specialised cloud provider CoreWeave (CRWV.O), opens new tab to build one of Europe's largest training clusters and is hosting a Nvidia Blackwell SuperPod for DeepL, whose chips are highly coveted by enterprises to train and run large AI models.
#ResearchDataExcellence #DataAnalysisAwards #InternationalDataAwards #ResearchDataAwards #DataExcellence #ResearchData #DataAnalysis #DataAwards #GlobalDataExcellence #DataInnovationAwards #DataResearch #ExcellenceInData #DataAwardWinners#DataAnalysisExcellence #ResearchDataInsights #GlobalResearchAwards #DataExcellenceAwards #ExcellenceInResearchData #ResearchDataLeadership #DataResearchExcellence #AwardWinningData #InternationalResearchAwards #DataAnalysisInnovation #ResearchDataAchievement #ExcellenceInDataAnalysis #GlobalDataInsights #ResearchDataSuccess #DataAwards2024
Website: International Research Data Analysis Excellence Awards
Visit Our Website : researchdataanalysis.com
Nomination Link : researchdataanalysis.com/award-nomination
Registration Link : researchdataanalysis.com/award-registration
member link : researchdataanalysis.com/conference-abstract-submission
Awards-Winners : researchdataanalysis.com/awards-winners
Contact us :support@researchdataanalysis.com
Get Connected Here:
==================
Facebook : www.facebook.com/profile.php?id=61550609841317
Twitter : twitter.com/Dataanalys57236
Pinterest : in.pinterest.com/dataanalysisconference
Blog : dataanalysisconference.blogspot.com
Instagram : www.instagram.com/eleen_marissa
Comments
Post a Comment