Nvidia chief executive Jensen Huang has said demand for so-called neocloud companies, which rent out AI computing capacity, is extremely strong but that a shortage of capital is holding back their growth, CNBC reports.
Speaking at Nvidia's GTC conference in Berlin, Huang said the demand for capital far exceeds what is available, though he expected the problem to be solved. He argued that Europe needs many more neoclouds and that securing scarce, costly electricity for firms such as Nebius and Mistral is crucial if the region is to build its own AI economy.
Huang has been touring Europe this month as Nvidia expands its investments there. The company has committed nearly $10 billion to companies, universities and research bodies in the region, including stakes worth more than $1 billion in five UK start-ups announced last week.
Source: CNBC
