Ripple Co-founder’s Nonprofit Launches Cloud Service to Address AI Chip Shortage
Jed McCaleb, the co-founder of Ripple, has introduced a new cloud service through his nonprofit organization, Navigation Fund. This initiative aims to address the ongoing shortage of AI chips by providing leasable capacity for large machine learning models. The cloud service, launched on October 29, offers flexible access options on an hourly, monthly, or long-term basis.
Voltage Park: Providing Bare-Metal Access for High-Performance Users
One of the organizations involved in this project is Voltage Park, which currently offers bare-metal access for users requiring peak performance. According to a statement on their website, they plan to expand their services by early 2024. Voltage Park, a subsidiary of Navigation Fund, has an impressive setup of around 24,000 NVIDIA H100 GPUs grouped into interconnected clusters.
A $500 Million Investment in Hardware
The hardware utilized by Voltage Park is valued at $500 million. Clusters will be established in Texas, Virginia, and Washington. Eric Park, the CEO of Voltage Park, stated that the company plans to scale its operations in the future. He joined the organization in July.
Hot Take: Tackling the AI Chip Shortage with Leasable Capacity
In response to the current shortage of AI chips, Ripple co-founder Jed McCaleb’s nonprofit organization has launched a cloud service that provides leasable capacity for large machine learning models. This innovative solution aims to address the challenges faced by users requiring high-performance access and offers flexible options for short-term or long-term usage. By partnering with Voltage Park and its extensive GPU clusters worth $500 million, Navigation Fund is making strides towards resolving the AI chip shortage and promoting affordable AI development.
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