Billionaire Alex Gerko’s XTX to Build €1 Billion Data Hub in Machine-Learning Bet
- Billionaire’s quant firm plans five data centers in Finland
- The move bucks trend of relying on third-party infrastructure
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Billionaire Alex Gerko’s quantitative-trading firm XTX Markets is investing more than €1 billion ($1 billion) building five data centers in Finland to underpin its growing use of machine learning.
The London-based market maker, which uses complex algorithms to trade over $250 billion worth of assets a day, will build the hub in the area around Kajaani, in central Finland, where it owns a 478-acre site, XTX said in a statement on Wednesday.