Gcore Secures $60 Million to Revolutionize Edge AI Solutions
Luxembourg, Wednesday, 24 July 2024.
Luxembourg-based Gcore raises $60 million in Series A funding to expand its AI-driven edge computing solutions. Led by Wargaming, this investment marks Gcore’s first external capital raise in over a decade, fueling the company’s mission to connect the world to AI through innovative cloud and edge services.
Strategic Investment for Technological Expansion
Gcore, an international provider of edge AI, cloud, network, and security solutions, has successfully raised $60 million in Series A funding. This funding round, led by game developer and publisher Wargaming, with participation from Constructor Capital and Han River Partners, marks the first external capital increase for the company since its inception over a decade ago. The funds are earmarked for significant investments in Gcore’s technology and platform, particularly focusing on AI servers powered by NVIDIA GPUs to drive AI-led innovations.
Enhancing Edge AI Capabilities
Gcore’s AI infrastructure is built to support both the training and inference of AI models at the edge. The company’s cloud infrastructure comprises 180 edge nodes spread across six continents, over 25 cloud locations, and a total network capacity of 200 Tbps. This extensive network allows Gcore to provide low latency (average of 30 milliseconds) and high-performance solutions without the complexity of server or infrastructure management. The AI servers equipped with NVIDIA GPUs will significantly enhance the company’s ability to handle large language model-based training and inference workloads.
Driving AI Innovation
The investment will also be used to further develop Gcore’s serverless edge solution, FastEdge, which was launched earlier this year. FastEdge is designed for cloud-native development, providing low-latency, high-performance capabilities for workloads such as AI inference, advanced image editing, personalization, A/B testing, and quick authentication. This solution eliminates the need for server management, making it an attractive option for enterprises seeking efficient and scalable AI infrastructure.
Global Reach and Impact
Gcore’s robust global IT infrastructure ensures reliable and scalable edge AI, cloud, network, and security solutions for various industries, including media, entertainment, gaming, technology, financial services, and retail. With a presence in Luxembourg and expansion into regions like South Korea, Luxembourg, and Wales, Gcore is well-positioned to meet the growing demand for AI infrastructure from enterprises and small-to-medium businesses (SMBs) alike. The company’s recent expansion into South Korea involved deploying 320 Nvidia H100 GPUs across 40 servers, each equipped with 2 terabytes of data storage and 112 CPU cores, showcasing Gcore’s commitment to advancing AI capabilities globally.
Leadership and Vision
Andre Reitenbach, CEO of Gcore, emphasized the transformative potential of AI in business operations. ‘We are on the cusp of an AI revolution that will transform how companies operate,’ Reitenbach stated. ‘Gcore is perfectly positioned to connect the world to AI, anywhere and anytime, by delivering innovative AI, cloud, and edge solutions. The growing demand for AI infrastructure from enterprises and SMBs alike highlights the importance of this significant investment.’ Sean Lee, chief corporate development officer of Wargaming, also expressed enthusiasm about the partnership, noting Gcore’s decade-long collaboration with Wargaming in delivering games to millions of players worldwide.
Conclusion and Future Prospects
As Gcore embarks on this new chapter with a substantial financial boost, the company remains committed to its vision of connecting the world to AI. The strategic investment will not only enhance Gcore’s technological capabilities but also expand its global footprint, making advanced AI solutions more accessible to organizations worldwide. The company’s focus on innovation, efficiency, and data sovereignty positions it as a leader in the rapidly growing edge AI market, which was valued at $14,787.5 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 21.0% from 2023 to 2030.
Bronnen
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