Q4 – We end the last quarter with the biggest deal in the company’s history! For our part, it will be a framing and summing up of 2021, another year marked by the pandemic and a global component shortage that has greatly affected the entire industry.
I can look back with pride to 2021, when we as a company took the strategic decision to intensify the construction of our House of Knowledge, in the midst of a global pandemic that has affected our entire society. We have to go back to the Second World War to find something similar!
In this situation, we dare to believe in ourselves and realise that if we are to maintain the leading position we have in the market and also establish ourselves there, we need to take the next step in CGit, namely to build a company that can deliver the entire lifecycle of AI, from the Data Centre to applied AI! From Data to Wisdom!
2021 – Let me look back at 2021.
In January, we started up our software company Aixia, which is an important step in moving us up the value chain. With their products AiQu and SnapXS, we can also schedule the training done in the AI platform, both to increase the utilization rate and to ensure the safety of the jobs done in the environment, which is an incredibly important component of the whole. We are also creating the conditions for ourselves to really be able to offer AI as a Service through our proprietary data manager, all in Swedish-developed software, in Swedish AI solutions, in Swedish data centres located in Sweden!
In March, we receive confirmation that we are on the right track when we are granted research funding for industrial research with a focus on research and development and innovation. An important milestone in the construction of our House of Knowledge!
In April, we have received such a good response from our AI dedicated data centre that we then take the decision to double the capacity with an additional 5 Petaflops of GPU computing power.
With the success we have now, it opens up new opportunities. We have the best AI-specialised data centres in Northern Europe, we have the most skilled and experienced AI devops and systems engineers in Scandinavia, and above all we have the experience of building these complex data centre solutions.
As a result, in April we will play a key role in several AI projects that are in line with Industry 4.0 together with Stena Industry Innovation Lab. Projects based on using cameras and AI to inspect and ensure that the production of companies in the global automotive industry meets their very high quality standards. This project in turn means that we are now one of the players in building Sweden’s digital mainline.
In June, we take the next step in being part of the development of Industry 4.0. CGit signs a strategic framework agreement with AI Sweden, Sweden’s national centre for applied artificial intelligence. CGit enters into a strategic framework agreement to build the Edge Lab, a world-leading test bed within AI Sweden’s Data Factory where companies, academia and the public sector can develop their AI solutions.
We’re just getting started in Q4 as we take our biggest deal in the company’s history! Our first GPU-based Megapod deal! Worth 43,6 MSEK!
A very important deal that confirms our position in the market but also confirms our competence and experience in a market that will directly determine the future development of many companies in Industry 4.0.
Our success in recent years has been partly due to our strategic choices and the way we have architected our solutions. In December, this generates us being named by Nvidia as the winner of the NVIDIA Channel Partner Marketing Excellence Award Northern Europe 2021! Incredible fun and another proof of our position and experience in AI and Deep Learning! As we sum up the year, we have delivered the largest turnover in the company’s history during a burning global pandemic! 135.5 MSEK is an increase of 76% compared to the previous year (77 MSEK)! This is at a time when we have made crucial and extremely important investments to continue to grow and now also to start building stronger earnings growth.
Annual General Meeting 2022 Interim report Q1 2022 Half-year report 2022
17 May 2022 20 May 2022 19 August 2022
CEO has the floor
We are in a unique position!
In recent years, as the world has struggled with pandemics and component shortages, we have structured and purposefully built our knowledge house. We have added building blocks to our AI offering that make us unique! From Data to Wisdom! From computing power to applied AI!
We were early in creating leading data centre solutions for AI and Deep Learning, creating a leading position in the field. But as a wise man said, if you don’t evolve, you disintegrate. We realised early on that we need to add several components to the larger AI ecosystem. This is the background to AIXIA and the development of our software products AiQu and SnapXS.
We now have a permanent R&D group working to further develop and add new features to our software solutions in line with the ever-evolving market. As a result, we maintain the lead we have over many of our competitors in both the Swedish and global markets. We have consciously invested in the development of our software solutions AiQu and SnapXS instead of maximising an operating profit.
And what an offer we now have to offer an entire global market! Now that the development of Industry 4.0 is really taking off.
We continue to take market share in this area, which we also show by a growth of our turnover of 76% and even if we put a bracket around 2020, which suffered from the pandemic, we still make a turnover increase compared to 2019 of a full 30%!
Let me put our development and the building of our House of Knowledge in a broader context;
For CGit, it’s always been about doing complicated things in a simplified way. For us, it’s about knowledge, not moving boxes. Our motto has always been to challenge the given. Asking the right questions, but perhaps not the easiest questions. It has been our role and become our raison d’être, even though we recognise that this way of thinking has not been the easy route to success.
When you question the given, sometimes answers come from unexpected places. That’s what happened in 2017. Starting with the highest performing conventional data centre solutions, we were one of many asked by the automotive industry to design the next generation data centre. A data centre solution that could handle more data and handle it faster. Faster than anyone before. Data centres driving the fourth industrial revolution. CGit responded by creating the first of the next generation of data centres that is still, to this day, superior.
By breaking new ground, designing commercial data centres specialised for AI, we discovered that our customers had problems that no one else had encountered. Our customers had invested heavily in state-of-the-art data centre solutions that almost no one had used before, and that presented new challenges. The existing software, designed for new requirements, did not live up to the performance that the infrastructure was designed for, which was the development of AI. Building data centre solutions based on GPUs instead of CPUs represented a paradigm shift and a whole new level.
Traditional solutions such as. HPC, which is an established solution on the market, could not provide the answers customers wanted. At the same time, the amount of data needed to develop AI at a whole new level was exponential.
The solutions that were available came from traditional large multinational companies and would involve huge and very complex investments in both consulting services and software licenses to even get started with AI development.
We decided to act and designed solutions based on our conviction and knowledge in the field! We created something that even the largest multinationals have not been able to do. Thanks to investments and faith in the future from us at GGit, our offer is no longer limited to the data centre. Our offer and concept now spans all the way to applied AI.
The investments we have made in our software mean that we are now delivering the next industrial revolution, Industry 4.0!
With our AI-specialised software AiQu and SnapXS, we are finally ready to provide AI from the data centre to applied AI. Our services will bring a whole new level of automation to all industrial customers, large and small. A feat that very few companies can match.
We aim high and the potential of our solutions is global. We have a commercially ready data centre for applied AI “AI as a Service”, a technical and commercial solution that is now already being used by customers and the roll-out has already started. This means that CGit can offer Swedish AI solutions to global customers, in Swedish data centres, with Swedish software.
It is a unique position!
How unique is demonstrated by the fact that Facebook’s parent company, Meta, has just invested in what is planned to be the world’s highest performing AI data centre. They have chosen to build on the exact same components and architecture that we started doing back in 2017, five years ago! Further proof that we were, and still are, on the right track.
Download the full report here
Year-end report 2021
For more information, please contact the Company at:
CEO Mattias Bergkvist
Telephone: 031-762 02 40
This information is information that CGit Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 23 February 2022.
CGit is an IT company with headquarters in Mölndal and offices in Gothenburg and Lund. The company was founded in 2007 and is part of a group with the wholly owned subsidiary CGit AB. The company focuses on advanced data centre solutions, including specialised solutions and consulting services for Artificial Intelligence (AI) development and production. The company also develops its own software solutions in AI and offers specialist consultancy services. CGits also offers a full range of operational and hosting services in both data centre solutions and client management. The company has about 30 employees and the market CGit operates in is Global.