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Jed McCaleb-backed nonprofit will present simpler entry to AI computing capability


Ripple co-founder Jed McCaleb’s nonprofit Navigation Fund helps to sort out the AI chip scarcity by providing leasable capability massive machine studying fashions. A brand new cloud was formally launched on Oct. 29 that will probably be accessible on an hourly, month-to-month or long-term foundation.

A corporation referred to as Voltage Park “at the moment supply[s] bare-metal entry for large-scale customers that want peak efficiency” and expects to broaden its service by early 2024, in response to a statement on its web site. It has round 24,000 NVIDIA H100 graphics processing items (GPUs) grouped into interconnected clusters. Voltage Park is a subsidiary of Navigation Fund.

The {hardware} is price $500 million. Clusters will probably be arrange in Texas, Virginia and Washington, Voltage Park CEO Eric Park told Reuters. Park joined the group in July.

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Voltage Park is at the moment auctioning off contracts with lengths of one-to-three months on 1,560 GPUs. It mentioned in its announcement:

“The marketplace for cutting-edge ML compute is damaged. Startups, researchers and even massive AI labs are scrambling to purchase or lease entry to the most recent chips for ML coaching. […] We’re on a mission to make machine studying infrastructure accessible to all.”

The Navigation Fund was based in 2023 with plans to offer a small variety of grants this yr and broaden its applications in early 2024. It plans to advance various causes along with “secure AI.”

Billionaire McCaleb created Mt. Gox to commerce Magic: The Gathering playing cards, then repurposed it as a Bitcoin (BTC) trade and sold it in 2011, three years earlier than its collapse. He went on to develop into a co-founder of Ripple Labs and, after leaving Ripple on unhealthy phrases with the remainder of the administration, he co-founded the Stellar blockchain. He additionally created a space station startup in 2022 that has partnered with Elon Musk’s SpaceX.

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