Northern Data Touts 85% GPU Allocation as AI Infrastructure Revenue Jumps
Northern Data said demand for its AI compute is accelerating, with its Nvidia GPU fleet approaching full allocation as the German data center operator benefits from growing interest in AI workloads.
The Frankfurt-listed company reported on Thursday that utilization of its GPU estate rose from 62% in December to 66% in January and is expected to approach roughly 85% by the end of the first quarter, matching its current allocation rate.
The increase in usage helped drive sequential revenue growth in the final quarter of 2025, when the company generated €31 million ($33.7 million) in revenue, up from €8 million in the third quarter.
Northern Data said it expects its fleet of roughly 22,000 Nvidia H100 and H200 chips to operate at full capacity in the first quarter, with more than 85% of those processors already allocated to customers through a mix of reserved and on-demand contracts.
The company attributed the rise in utilization to new customer agreements and an expanding pipeline of potential clients, which it said are increasingly seeking dedicated access to high-performance computing infrastructure for AI development.
Improving demand has also lifted the pricing environment for H100 and H200 GPUs between the fourth quarter of 2025 and the first quarter of this year, the company said, though it did not provide specific price figures.
Northern Data has been repositioning its infrastructure around its Taiga Cloud platform, which provides software-defined access to its GPU clusters and allows customers to deploy AI workloads on either bare-metal or on-demand instances.
The company said it has been shifting away from spot-market capacity sales toward longer-term reserved contracts, a move that it expects will stabilize utilization and improve revenue per GPU hour. It plans to publish its full-year 2025 financial results before the end of March.
Northern Data’s push to fill its GPU cloud comes after the company effectively exited Bitcoin mining to become a pure-play AI and high-performance computing infrastructure operator. In November 2025, it announced the divestiture of Peak Mining for up to $200 million, including $50 million upfront and as much as $150 million in deferred consideration tied to profit sharing from the Corpus Christi mining operations. The company said at the time the sale would sharpen its focus on Taiga Cloud and Ardent Data Centers, while still preserving some upside linked to the Corpus Christi site during the earn-out period.
