Business Wire

Northern Data: Corona / COVID-19 Pandemic Leading to Massive Uptick in Demand for Computing Capacity

Share

Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87), one of the world's largest providers of high-performance computing (HPC) solutions, today reports that the Corona Virus / COVID-19 -Pandemic is resulting in a massive increase in computing capacity demand. In order to meet the increased demand, the company has instigated an acceleration of the expansion of capacities at its locations and in addition is looking to develop further locations.

Immediate demand for computing power in the wake of the pandemic is being driven by two immediate and game changing developments: Firstly, pharmaceutical companies and research institutions worldwide are using HPC systems on a large scale for the first time in order to carry out calculations and simulations in the field of bioinformatics and epidemiology in the shortest possible time, which with conventional computer systems can take several months or even years. This gives research teams the opportunity to accelerate the development of novel drugs that can be used against the coronavirus in the short term. Northern Data management expects this trend to continue after the end of the COVID 19 pandemic.

Secondly working conditions worldwide have shifted drastically online in a matter of weeks through the course of the COVID 19 pandemic, this has led to a massive increase in demand for computing capacity. Due to the current restrictions, many companies in parts of the United States, Europe and Asia are forced to operate with an almost 100% home office ratio. The associated use of digital applications such as video conferencing tools is causing an explosion in demand for data capacities. Also, this trend will continue beyond the corona crisis.

Northern Data will start operating its newest HPC facility in the United States in the coming days. The world's largest HPC data center is being built in Texas on an area of ​​more than 100 acres, which corresponds to the size of around 57 soccer fields. The company originally intended to achieve a total capacity of one gigawatt at the US location by the end of the year. Due to the changed and overwhelming demand situation, plans are now beginning to seamlessly expand the location to up to 3.6 gigawatts.

The company is also accelerating the development of additional locations for additional large-scale HPC facilities in Canada and Scandinavia.

"We are facing overwhelming demand," said Aroosh Thillainathan, CEO of Northern Data AG. "In some areas we see a thirty times higher market demand than we can build up capacities by the end of the year. We now benefit from our many years of experience in large-scale high-performance computing in order to further accelerate ongoing scaling."

Northern Data published its forecast for 2020 on March 16. Based on current expectations and in line with contracts already signed, the Management Board expects revenues of EUR 120 million to EUR 140 million in the course of 2020. Accordingly, the Management Board expects EBITDA of between EUR 45 million and EUR 60 million. This guidance is based only on a partial utilization of initially 30% of the 1GW expansion stage, based on already concluded contracts for the provision of HPC solutions with global customers. The forecast will be adjusted in due course as new customer acquisition progresses.

About Northern Data:

Northern Data AG develops and builds global infrastructure solutions in the area of ​​high-performance computing (HPC). The company offers solutions in areas such as machine learning and artificial intelligence, big data analytics, blockchain, game streaming and others. The international company emerged from the merger of the German Northern Bitcoin AG and the American Whinstone US, Inc. and is today a recognized market leader in the field of HPC solutions worldwide. Northern Data offers its HPC solutions both stationary in large, state-of-the-art data centers and in mobile, high-tech data centers based on containers, which can be set up at any location worldwide. It combines self-developed software and hardware with intelligent concepts for a sustainable energy supply. In Texas, Whinstone is currently building the largest HPC data center in the United States and the largest facility in the world specifically for HPC applications.

Language: English
Company: Northern Data AG
Thurn-und-Taxis-Platz 6
60313 Frankfurt/Main
Germany
Phone: +49 69 34 87 52 25
E-mail: info@northerndata.de
Internet: www.northerndata.de
ISIN: DE000A0SMU87
WKN: A0SMU8
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich (m:access), Tradegate
Exchange

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Press Contact:
Northern Data AG
Dr. Hans Joachim Dürr
Head of Corporate Communications
E-Mail: h.duerr@northerndata.de
Telefon: +49 69 348 752 89

Investor Relations:
Sven Pauly
E-Mail: ir@northerndata.de
Telefon: +49 89 125 09 03 31

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

AngloGold Ashanti Releases Preliminary Unaudited Condensed Consolidated Financial Statements as of and for the Six Months and the Year Ended 31 December 202319.3.2024 14:04:00 EET | Press release

AngloGold Ashanti plc (“AngloGold Ashanti”, “AGA” or the “Company”) is pleased to provide its preliminary unaudited condensed consolidated financial statements as of and for the six months and the year ended 31 December 2023 (the “FY 2023 Earnings Release”). FY 2023 Financial and Operating Update The FY 2023 Earnings Release should be read together with AngloGold Ashanti’s preliminary financial update for the six months and the year ended 31 December 2023, which was published by the Company on 23 February 2024 (the “FY 2023 Preliminary Financial Update”). No changes have been made in the FY 2023 Earnings Release with respect to the production, cost or cash flow information included in the FY 2023 Preliminary Financial Update. The FY 2023 Preliminary Financial Update combined with the FY 2023 Earnings Release provide the Company’s financial and operating update for the six months and the year ended 31 December 2023. Announcement of Annual General Meeting Date The 2024 Annual General Mee

IFF Announces Sale of its Pharma Solutions Business to Roquette19.3.2024 13:45:00 EET | Press release

IFF (NYSE: IFF) today announced that it has entered into a definitive agreement to sell its Pharma Solutions business unit to French leader of plant-based ingredients Roquette for an enterprise value of up to $2.85 billion, which represents an enterprise value to EBITDA multiple of approximately 13x. IFF’s Pharma Solutions business is a well-established developer and manufacturer of pharmaceutical excipients and includes its Global Specialty Solutions business supporting industrial and methyl cellulosic food applications. The Pharma Solutions business being sold to Roquette is primarily made up of businesses within IFF’s existing Pharma Solutions division, with some adjustments to the perimeter of the transaction designed to align customers, businesses and the manufacturing footprint. “We are pleased to reach an agreement with Roquette that will support Pharma Solutions’ next chapter of growth as a trusted partner for the pharmaceutical industry,” said IFF CEO Erik Fyrwald. "An importa

“Unfortunately, not a lot has changed for girls in football.”19.3.2024 12:00:00 EET | Press release

PUMA CEO Arne Freundt and Alexandra Popp, the captain of the Germany national football team, spoke about leadership and the challenges of women in football. The video interview is part of the sports company’s digital annual report, which was published on March 18 on about.puma.com. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240319731548/en/ Voted Germany’s footballer of the year three times, Alexandra is one of the most prominent ambassadors for women’s football and she is known for her skill and charismatic leadership on the pitch. She started off her career playing in a mixed team, and she distinctly recalled how girls were often belittled and treated unfairly on the pitch. “Football is still pretty tough for girls. The boys in my team were cool. But our opponents were another story. They laughed at you. They said: look, they have a girl in their team, we’ll beat them easily,” Alexandra said. “Or when you play and you

Moove secures USD $100 million Series B round19.3.2024 11:01:00 EET | Press release

Moove, the global mobility fintech that democratises access to vehicle ownership for mobility entrepreneurs, today announces that it has raised $100 million in a Series B funding round, valuing the company at $750m. Uber invested in the round alongside Mubadala, who led Moove’s previous funding round in 2023. The round will enable Moove to expand its customer focused revenue-based vehicle financing offering to 16 markets around the world by the end of 2025. A considerable portion of this expansion will focus on electric vehicles (EVs), which will lay the groundwork for a more sustainable and accessible mobility ecosystem for its customers worldwide. Ladi Delano, Founder of Moove, said: “Today’s announcement marks a significant milestone for us. When we founded Moove in 2020, we were motivated to solve the acute shortage of vehicle financing that over two million African mobility entrepreneurs faced. “This validation from Uber and others stands as a testament to the fact that what was o

Cielo Debuts First Generative AI for Talent Acquisition: CLO.ai19.3.2024 10:11:00 EET | Press release

Cielo, the world’s leading Talent Acquisition Partner, today debuts the first generative AI (GenAI) for talent acquisition: CLO.ai. Based on a new set of industry principles for responsible AI use, the intelligent tool allows talent leaders to maximize the power of GenAI for better hiring outcomes fast, while protecting candidates' experiences. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240319387916/en/ “In a competitive, noisy market with many emerging, and sometimes unproven, methodologies and technologies, Cielo has established a responsible approach to artificial intelligence in human resources & talent acquisition. At Cielo, their data scientists, engineers, and talent acquisition experts collaborate to improve GenAI models, assess data for relevancy and accuracy, and operate in a secure environment, thus contributing to an enhanced experience for their clients and candidates. They are not only navigating the landsc

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye