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Northern Data Group announces Q2 Results, reaffirms 2024 guidance

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The Group reports Q2 revenue of EUR26 million, up 22% year-on-year, for a combined H1 2024 revenue of EUR55 million, up 49% year-on-year, with break-even adjusted EBITDACloud* Q2 Revenue was EUR12 million, up 236% year-on-year and up 56% from Q1, driven by onboarding clients to newly deployed NVIDIA H100 GPU infrastructureHPC infrastructure expansion continues at pace during H2:More than 12,000 NVIDIA H100 GPUs now live, and deployment remains on trackPittsburgh, Pennsylvania data center retrofit in progress on 20MW facilityParaguay mining site live, with Corpus Christi, Texas coming online in Q3, and remains on track to deliver expected 7.9Ehs by year-endOn track to meet FY 2024 revenue target of EUR million 200 – EUR240 million up 200% YOY and adjusted EBITDA of EUR50 millionEUR80 millionCapital raise of EUR214 million announced in July which will fund further strategic investments

FRANKFURT, Germany, Aug. 6, 2024 /PRNewswire/ — Northern Data AG (ETR: NB2) (“Northern Data Group” or “the Group”), a leading provider of High-Performance Computing (HPC) solutions, today announces its Q2 results, and reaffirms its 2024 full-year guidance.

Northern Data Group achieved revenue of EUR26 million during Q2, driven by strong performance from the Group’s Cloud platform and strategic investments in its Data Center footprint and Mining facilities. With a combined H1 revenue of EUR55 million, up 49% year on year, the Group is well-positioned to deliver on its 2024 commitments and capitalize on the growing demand for HPC driven by the Generative AI boom.

Q2 saw momentum in the significant rollout of Northern Data Group’s NVIDIA H100 GPUs, with customers now fully operational on the platform. This rollout and the successful onboarding of key clients helped drive the performance of the Group’s Cloud platform, whose revenue accounted for 46% of Group revenue for the quarter.

Northern Data Group is on track to deliver full year 2024 revenue of EUR200 millionEUR240 million – tripling that of 2023 – and supporting the Group’s expectations of revenues of EUR520 millionEUR570 million in full-year 2025. Adjusted EBITDA for 2024 is expected to be in the range of EUR50 millionEUR80 million.

Operational developments building solid foundations for growth

Further geographical expansion and strategic partnerships, as well as the launch of Northern Data Group’s AI Accelerator, underpinned the Group’s performance in Q2. Strategic investments across core business segments continue to strengthen the Group’s ability to meet growing HPC demand and broaden its presence in the growing AI ecosystem.

Cloud – Acquired NVIDIA H200s, further expanding GenAI offering and demonstrating commitment to providing best in class hardware. Announced strategic partnership with VAST Data to deliver scalable cloud services to Europe powered entirely by 100% carbon-free energy.Data Centers – Broke ground on recently acquired data center in Pittsburgh, Pennsylvania, to be retrofitted into a cutting-edge, high-density data center environment. Multiple other acquisition prospects are in Due Diligence.Mining – Announced partnership with Penguin Infrastructure, adding 28MW of mining capacity powered by 100% renewable energy, in addition to the purchase of a second 300MW ERCOT-approved site in Corpus Christi, Texas.

Post period end

Plans for full deployment in 2024 remain on track. The Group also secured a capital increase with gross proceeds of EUR214 million in July, which will fund further strategic investments.  

In order to ensure further growth, the management of Northern Data Group regularly examines all financing and other options both at the Group level and subsidiary level. This includes, in addition to possible further measures for equity or debt financing, the exploration of a possible listing of the Group on an alternative exchange and listings or disposals of its subsidiaries. This could in particular facilitate access for international investors, increase transparency and reflect the successful development of Northern Data Group as a leading technology company. However, no decision regarding any such possible measures has yet been made.

Aroosh Thillainathan, Founder and CEO, Northern Data Group, commented:

“The Group has made significant progress in the first half of 2024 in augmenting our HPC leadership position, while also leveraging strategic investments and partnerships to boost our Cloud, Data Center, and Mining capabilities.

In Q2, our deployment of NVIDIA H100 GPUs and successful onboarding of customers has put us on track to execute on our 2024 deployment plan and meet our 2024 financial guidance. We are well capitalized heading into the second half of the year, and are continuing to build sophisticated and scalable operations to support the growing demand for HPC and the Generative AI boom in 2024 and beyond.”

*Cloud including Data Center

About Northern Data Group:

Northern Data Group (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 platforms: 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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Huawei Launches Over 20 All-New Xinghe Intelligent Network Offerings to Amplify Industrial Intelligence

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SHANGHAI, Sept. 21, 2024 /CNW/ — During HUAWEI CONNECT 2024, Leon Wang, President of Huawei’s Data Communication Product Line, announced more than 20 all-new Xinghe Intelligent Network offerings globally at the summit themed “Xinghe Intelligent Network, Amplify Industrial Intelligence”. These purpose-built offerings contribute to an AI network ecosystem and help customers seize opportunities for intelligent development and maximize intelligent productivity.

With the development of AI technologies, the world is advancing from digital transformation to intelligent transformation. All industries are quickly adopting AI technologies to create new use cases, for example, self-driving cars, intelligent diagnosis and treatment, and intelligent train inspection. All of these are significantly improving the efficiency and experience of our work and daily lives.

The advent of the intelligent era is driving networks into intelligent ones. Huawei has been making joint efforts with partners to lead research and practices of intelligent networks. That’s why Huawei constantly upgrades its Xinghe Intelligent Network offerings to help customers grasp opportunities for intelligent development, build new intelligent network infrastructure, and maximize intelligent productivity in the intelligent era. Key highlights include the following:

Xinghe Intelligent Campus focuses on AI-enabled, experience-centric campus network construction, ensuring zero freezing for audio and video applications, zero degradation on services, and zero waiting for interactions.Xinghe Intelligent WAN introduces a wide range of intelligent technologies to intelligently schedule millions of flows and precisely optimize service experience.Xinghe Intelligent Fabric adopts the AI Turbo engine to improve network throughput, enhancing foundation model training efficiency.Xinghe Intelligent Network Security integrates AI technologies into network security detection, accurately and rapidly identifying threats.

To support network solutions in various scenarios, Huawei released more than 20 featured offerings globally. Examples include the industry’s first 100 Tbps fixed-form Ethernet data center switch, the industry’s first 51.2 Tbps liquid-cooled fixed-form data center switch, the industry’s first AI router, high-quality 10 Gbps campus switches and Wi-Fi 7 APs, Intelligent SASE Branch Security Solution, and the industry’s first IP Autonomous Driving Network Solution. All these offerings are designed to help customers with greater business returns.

As the intelligent era calls for intelligent networks, Huawei will continue to drive the development of intelligent networks and upgrade its Xinghe Intelligent Network products and solutions, ultimately helping global customers to stride towards the intelligent era and reap more benefits.

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SOURCE Huawei

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HUAWEI CONNECT 2024 | Huawei Unveils the Brand-New Xinghe Intelligent Fabric Solution, Powering the AI Era

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SHANGHAI, Sept. 21, 2024 /PRNewswire/ — At HUAWEI CONNECT 2024, over 300 industry leaders, experts, and scholars gathered for the data center network session themed “Xinghe Intelligent Fabric, Powering the AI Era.” The event featured discussions on the evolution and technological advancements of data center networks. During the session, Arthur Wang, President of Data Center Network Domain at Huawei’s Data Communication Product Line, introduced the newly upgraded Xinghe Intelligent Fabric solution. This cutting-edge solution aims to establish a data center network characterized by one map for intelligent operations and maintenance (O&M), one network for diverse computing, and one platform for simplified deployment, providing a robust network infrastructure to support enterprises’ digital and intelligent transformations.

In his keynote speech, Arthur Wang outlined the emerging trends in data center network development. He emphasized that in the AI era, data center networks require both a “brilliant brain” and “resilient bones.” The newly launched Xinghe Intelligent Fabric solution is designed to deliver a powerful network infrastructure tailored for the AI era, featuring:

One Map for Intelligent O&M: Zero Management Concerns

Huawei’s exclusive network digital map enables rapid cross-data center and cross-vendor fault identification within minutes. Additionally, the NetMaster network large model facilitates AI-driven O&M, eliminating manual intervention and ensuring zero management concerns.

One Network for Diverse Computing: Zero Service Interruptions

The Xinghe Intelligent Fabric supports various application scenarios, including intelligent computing, general-purpose computing, and storage. The innovative Network Scale Load Balancing (NSLB) algorithm increases network throughput to 95% and boosts AI training efficiency by over 10%. With the exclusive iReliable three-level fast switchover capability, it achieves sub-millisecond switchover, guaranteeing zero service interruptions.

One Platform for Simplified Deployment: Zero Configuration Errors

By employing digital twins to simulate networks in advance and verify configurations post-deployment, the solution ensures 100% accuracy in network changes. By harnessing network-security convergence capabilities, AI creates an intelligent security matrix to analyze millions of security policies, achieving zero configuration errors.

Looking ahead, Huawei will continue to collaborate with industry partners to enhance research and innovation in data center networks, promote intelligent upgrades, and create greater value for the industry.

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SOURCE Huawei

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Cultivating a Culture of Peace: International Day of Peace Statement by Education Cannot Wait Executive Director Yasmine Sherif

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NEW YORK, Sept. 21, 2024 /CNW/ — The longing for peace transcends time, geography and religion. Based on justice, human rights and universal values outlined in the UN Charter, a culture of peace brings us all together in our common agenda for humanity. We can only co-exist by aligning ourselves with such a world order.

On today’s International Day of Peace, we call on world leaders to end conflict and embrace a culture of peace as enshrined in the UN Charter and related international law.

As the UN General Assembly outlined in the Declaration and Programme of Action on a Culture of Peace  a quarter of a century ago, this must include: “Respect for life, human rights and fundamental freedoms; the promotion of non-violence through education, dialogue and cooperation; commitment to peaceful settlement of conflicts; and adherence to freedom, justice, democracy, tolerance, solidarity, cooperation, pluralism, cultural diversity, dialogue and understanding at all levels of society and among nations.”

Educating for peace starts at home and continues in school through years of education. This takes place during the most formative years of a child learning about their identity, ethics, values, conscience, courage and compassion. Wherever there has been a failure in imparting on children the imperative for peace, the world is turned upside down. This is a global failure with no geographical boundaries.

Today, we live in a world of unprecedented violence, armed conflict and chaos. All the genuine and heartfelt commitments made in 1945 in the UN Charter seem to be fading away. Children and adolescents are the most vulnerable, the least protected, and the most impacted. They bear the brunt. 

Global conflicts killed three times as many children in 2023 than in the previous year, according to the United Nations. The number of forcibly displaced people reached an unprecedented 120 million in May 2024.

“In 2023, the United Nations verified a record 32,990 grave violations against 22,557 children in 26 conflict zones, a 35% increase from the previous year,” according to recent analysis by the UN.

We can end these violations and invest in a constructive co-existence globally. We can use our resources for education, rather than for wars. In classrooms around the world, girls and boys who have withstood the wrath of war can rebuild their hopes and their lives. Cultivating a culture of peace is possible. The financial resources exist. The choice as to how we use them is ours.

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SOURCE Education Cannot Wait

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