OVHcloud has 110MW of unused data center capacity, CEO Klaba says

OVHcloud is sitting on 110MW of uncommitted data center capacity inside a 250MW footprint, CEO Octave Klaba disclosed on the company's annual earnings call. Of the 250MW, 140MW is already operational.

"That is what we will use to accelerate our growth," Klaba said.

The French cloud provider posted €1.145bn ($1.29bn) in revenue for fiscal 2026, up 5.6 percent from €1.08bn a year earlier. EBITDA (earnings before interest, taxes, depreciation, and amortization) hit €480.5m, up from €437.8m. Gross margin held at 67.3 percent.

What does the capex picture look like?

FY2026 capital expenditure totaled €422m ($474.35m). Strip out €49.5m prefinanced for 2027 and in-year deployment capex lands at €372.9m, or 32.6 percent of revenue. That is up just 3.2 percent from €361.4m the prior year.

Hardware alone consumed €242m, or 21 percent of revenue, interim CFO Julien Rabette said. The figure was broadly stable.

"Two effects offset each other," Rabette explained. "First, a volume tailwind: we assembled fewer servers. Second, a price headwind: each server costing more because of component inflation."

Klaba labeled 2026 "a year of discipline," a deliberate contrast to the spending pace set by hyperscalers (large-scale cloud operators such as AWS, Microsoft Azure, and Google Cloud) and neoclouds (GPU-first infrastructure startups).

Why was OVHcloud cautious on AI GPUs?

Klaba addressed the hesitation head-on. OVHcloud stayed out of the early GPU rush because the demand case looked thin in Europe.

"We didn't think that there was a lot of demand for GPUs three or four years ago," he said. "We saw competitors that invested in GPUs, and they didn't sell them in Europe, so I was a little bit cautious about the use of capex."

The new Blackwell-class silicon changes the math, Klaba argued. He named B300 and R200 parts as the inflection point for both training and inference (running a trained AI model in production).

"The old GPUs, the H100s, didn't have a lot of performance," Klaba said. "When you have this new generation of GPUs, B300 and R200, we are talking about something different, really, a magnitude of performance more. You reduce more than 20 times the cost of the same performance over just three or four years."

What about FY2027 guidance?

Klaba refused to publish a 2027 capex number. Customer demand could pull spend up; component pricing could push it back.

He did vouch for the supply chain. "We have a very good relationship with our suppliers on the RAM, hard disk, but also CPUs, GPUs, et cetera. We have continuity of the supply chain. We do not have issues delivering our growth in FY 2027."

Pricing moves continue. OVHcloud has raised rates in a "moderated and mutualized way" and will do so again in coming months, though Klaba declined to quantify.

How is revenue split now?

OVHcloud reorganized reporting into three customer tiers:

• Digital starters: 49% of revenue
• Digital scalers: 31%
• Corporates: 19%

On the product side, private cloud (dedicated, single-tenant infrastructure rented to one customer at a time) still anchors the business. It generated €690.4m, or 60.3 percent of FY2026 revenue.

Where does OVHcloud operate?

More than 40 core data centers run or are under construction across France, Canada, the US, Australia, Germany, Poland, Singapore, India, Italy, and the UK. The mix leans toward self-built sites with selective leasing. A dozen-plus Local Zone Edge nodes (compact, low-latency extensions of OVHcloud regions hosted inside third-party carrier or colocation facilities) extend reach globally.