Stellar Co-Founder’s Non-Profit Invests $500M in AI Chips, Addresses Shortage

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Stellar Co-Founder’s Non-Profit Invests $500M in AI Chips, Addresses Shortage

A non-profit organization tied to Stellar co-founder Jed McCaleb is making a significant investment in AI chips to tackle the ongoing shortage and offer a unique cloud rental service. Voltage Park, a startup under McCaleb’s non-profit Navigation Fund, has recently acquired 24,000 Nvidia H100 chips worth $500 million. The plan is to rent out these resources as a cloud service, enabling other companies to leverage artificial intelligence (AI) capabilities.

The rental service provided by Voltage Park will cater to both short-term and long-term access plans, aiming to deploy the chips by February 2024. This innovative model aims to address the persistent shortage of AI chips that has affected various companies, including tech giants like Microsoft and OpenAI. In fact, OpenAI has even contemplated manufacturing its own AI chips as a solution.

Unlike the traditional shortage-driven market, Voltage Park’s cloud rental approach allows smaller enterprises and developers temporary access to AI chips and computing resources. This creates a level playing field by empowering organizations without the means to invest in high-end hardware.

While Jed McCaleb, a prominent figure in the cryptocurrency space and co-founder of Stellar, Ripple, and Mt. Gox, is not directly involved with Voltage Park, the company is fully owned by his non-profit organization. All profits generated by Voltage Park will flow back to Navigation Fund.

Voltage Park is not alone in leveraging the convergence of cryptocurrencies and AI. In September, reports revealed that stablecoin firm Tether had partnered with Bitcoin mining company Northern Data to offer cloud access to AI chips.

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However, cloud chip rentals have historically been a realm dominated by major tech players like Nvidia and Google Cloud. It remains uncertain whether smaller enterprises will be able to compete in this space.

Overall, Voltage Park’s sizable investment in AI chips opens up new possibilities for businesses to access cutting-edge AI technology without the burden of purchasing expensive hardware. As the shortage of AI chips persists, this rental model could spark further innovation and provide a more inclusive and accessible AI landscape.

Frequently Asked Questions (FAQs) Related to the Above News

What is Voltage Park?

Voltage Park is a startup under the non-profit organization Navigation Fund, which is tied to Stellar co-founder Jed McCaleb. It has recently invested $500 million in 24,000 Nvidia H100 chips to tackle the ongoing shortage and offer a unique cloud rental service for artificial intelligence (AI) capabilities.

How does Voltage Park's cloud rental service work?

Voltage Park's cloud rental service allows companies and developers to rent access to AI chips and computing resources. They offer both short-term and long-term access plans, enabling organizations without the means to invest in high-end hardware to leverage AI capabilities.

When will Voltage Park deploy the AI chips?

The plan is to deploy the 24,000 Nvidia H100 chips by February 2024.

Who can benefit from Voltage Park's cloud rental service?

Voltage Park's rental service aims to benefit smaller enterprises and developers who may not have the resources to purchase expensive AI hardware. By offering temporary access to AI chips and computing resources, Voltage Park creates a more inclusive and level playing field in the AI landscape.

Is Jed McCaleb directly involved with Voltage Park?

No, Jed McCaleb is not directly involved with Voltage Park. However, the company is fully owned by his non-profit organization, Navigation Fund.

What happens to the profits generated by Voltage Park?

All profits generated by Voltage Park will flow back to the Navigation Fund, Jed McCaleb's non-profit organization.

Are there other companies offering cloud access to AI chips?

Yes, there are other companies exploring cloud access to AI chips. In September, it was reported that stablecoin firm Tether had partnered with Bitcoin mining company Northern Data to offer similar cloud access. However, historically, this realm has been dominated by major tech players like Nvidia and Google Cloud.

How does Voltage Park's cloud rental service address the shortage of AI chips?

Voltage Park's innovative rental model allows companies to access cutting-edge AI technology without the burden of purchasing expensive hardware. By providing temporary access to AI chips, it helps address the persistent shortage in the market and encourages further innovation in the AI landscape.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

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