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Stock impact report

NexGen Cloud secures $45m to bolster AI infrastructure [Yahoo! Finance]

Akamai Technologies, Inc. (AKAM) 
Last akamai technologies, inc. earnings: 4/28 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.akamai.com
Company Research Source: Yahoo! Finance
The company announced the funding on LinkedIn, revealing that the round was supported by a group of family trusts and high-net-worth individuals, though their identities were not disclosed. Founded in 2020, NexGen Cloud initially provided cloud infrastructure for blockchain applications before pivoting to artificial intelligence. Now operating as a GPU-as-a-Service provider, it enables customers to access high-performance computing resources required for AI training and inference. Rather than owning its own data centres, NexGen Cloud has established long-term agreements with major hyperscalers to access GPU resources. These are offered to customers on-demand through the company's Hyperstack platform, which includes infrastructure services and consulting support for AI project planning. Describing itself as an "AI factory," the company reported a significant revenue increase, growing from $3m in 2023 to more than $70m by the end of 2024. According to NexGen Cloud, revenue Show less Read more
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