Odaily Planet News: AI startup Lightning AI and computing power provider Voltage Park have merged to create a "full-stack AI cloud." The combined company will retain the name Lightning AI, with a valuation exceeding $2.5 billion and annual recurring revenue surpassing $500 million. Lightning AI is the developer of the open-source tool PyTorch Lightning, while Voltage Park was established with a $900 million investment from Navigation Fund, a nonprofit organization founded by Jed McCaleb, co-founder of Ripple and Mt. Gox. Voltage Park manages over 35,000 Nvidia GPUs. Following the merger, Navigation Fund will hold a significant equity stake in the new company. (Forbes)
Lightning AI and Voltage Park Merge to Form $2.5B AI Cloud Company
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AI + crypto news broke as Lightning AI merged with Voltage Park to form a $2.5 billion full-stack AI cloud company. The new entity, also named Lightning AI, generates over $500 million in annual recurring revenue. Voltage Park was backed by Jed McCaleb's Navigation Fund, which also holds a major stake. New token listings could follow as the firm expands its infrastructure.
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