According to ChainCatcher, AI startup Lightning AI has merged with computing power provider Voltage Park 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 currently manages over 35,000 Nvidia GPUs. Following the merger, Navigation Fund will hold a significant equity stake in the new company.
Lightning AI Merges with Voltage Park to Form $2.5B AI Cloud Company
ChaincatcherShare
Summary
According to ChainCatcher, Lightning AI has merged with Voltage Park to form a $2.5 billion AI cloud company. The newly formed entity, also named Lightning AI, generates over $500 million in annual recurring revenue. It integrates PyTorch Lightning with Voltage Park's 35,000+ Nvidia GPUs. Voltage Park was supported by Jed McCaleb's Navigation Fund, which provided a $900 million grant. This AI and cryptocurrency news marks a significant development in the AI and crypto industry.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.