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Crypto Billionaire's Nonprofit Invests Big in AI Chips

Monday, Nov 06 2023
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Crypto Billionaire's Nonprofit Invests Big in AI Chips Magnus Engø

A nonprofit organization funded by cryptocurrency billionaire Jed McCaleb has made a big investment in AI technology. The organization, called Voltage Park, purchased 24,000 Nvidia H100 chips worth $500 million. These chips are used to power artificial intelligence projects. Voltage Park plans to offer low-cost AI computing to help with the shortage of AI chips. Eric Park, CEO of Voltage Park, believes that the current ecosystem for machine learning is broken. The chips will be set up in Texas, Virginia, and Washington and are expected to be fully deployed by February. This investment comes after the release of OpenAI's ChatGPT last year, which caused a surge in demand for Nvidia's advanced AI silicon. Intel, Advanced Micro Devices, and a host of startups also sell AI chips that are in high demand. This investment is a big step forward for AI technology.

AI technology is a rapidly growing field, and this investment by Voltage Park is a sign of that. It is important to remember that AI technology can be used for both good and bad, and it is up to us to ensure that it is used responsibly. It is also important to be aware of the potential risks of AI technology, such as the potential for job losses and the potential for misuse of data. It is important to stay informed about the development of AI technology and to be aware of the potential risks and benefits.

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