Netcompany agreed Tuesday to invest DKK 325 million in the operator of Denmark’s Gefion AI supercomputer, providing capital to expand computing capacity as the facility nears full use.
The investment would give Netcompany a 23.7% stake in Danish Centre for AI Innovation (DCAI), which runs Gefion. The price values DCAI at DKK 875 million before the new capital is added.
The partners described the planned financing round as totaling about DKK 500 million. Their announcement said Denmark intends to provide DKK 150 million through the Export and Investment Fund of Denmark (EIFO). The Novo Nordisk Foundation also plans to increase its investment by an undisclosed amount.
After the transaction closes, the foundation would own 52.6% of DCAI, while EIFO and Netcompany would each hold 23.7%. Netcompany would gain the right to nominate one of DCAI’s four directors. Netcompany CEO André Rogaczewski is expected to join the board upon completion.
DCAI plans to use the proceeds to expand its computing base, add supporting technology and build its operating capabilities. Netcompany also plans to supply Feniks Governance software to manage and secure access to Gefion’s computing resources.
The partners said the expansion aims to serve Danish businesses, public institutions and researchers. In its filing, Netcompany identified demand from public institutions, regulated industries and businesses handling sensitive or regulated data. It said Gefion already has users in defense, health care and research.
The partners said demand for AI computing is shifting from training models toward deploying them at scale. DCAI Chairperson Nana Bule said Gefion is approaching full capacity. EIFO CEO Peder Lundquist projected that Danish demand for AI capacity would increase at least sixfold within five years.
Gefion launched in October 2024 and now has 1,528 NVIDIA H100 graphics processing units. The Novo Nordisk Foundation committed about DKK 600 million to the initial project, while EIFO contributed DKK 100 million.
Netcompany said it would fund its investment through existing credit facilities and had not changed its 2026 financial guidance. It described the agreement as unconditional and expected the transaction to close later Tuesday.
