Tuesday, April 23, 2024
HomeCryptoProtocol Labs and Outlier Ventures support exaBITS in advancing decentralized AI computing

Protocol Labs and Outlier Ventures support exaBITS in advancing decentralized AI computing

Quick Take

exaBITS, a decentralized computing infrastructure for AI, has secured an oversubscribed pre-seed funding round, signaling strong investor confidence. The funding will boost its GPU optimization technology, addressing the AI industry’s compute resource shortage. With rapid revenue growth and significant cost savings for customers, exaBITS aims to revolutionize AI compute accessibility and efficiency.

Decentralized Computing for AI: exaBITS Raises the Bar with Oversubscribed Pre-Seed Funding

In an era where artificial intelligence (AI) is on the brink of reshaping every facet of our digital lives, the quest for more efficient and accessible computing power becomes increasingly critical. exaBITS, a decentralized infrastructure for AI and computationally intensive applications, has recently closed its oversubscribed pre-seed funding round, a testament to the confidence investors have in its mission to revolutionize AI infrastructure.

Among the notable investors rallying behind exaBITS are industry heavyweights such as Protocol Labs, Outlier Ventures, and Jabre Capital Partners, along with a plethora of other distinguished names including Valkyrie Funds, Big Brain Holdings, and Blockchain Builders Fund.

The collective endorsement by these entities underscores a shared belief in exaBITS’s potential to address one of the AI sector’s most pressing challenges: the scarcity of affordable and readily available computational resources.

exaBITS to use this fund to scale GPU optimization technology

The funding will fuel exaBITS’s ambitions to scale their GPU optimization technology. This advancement is poised to tackle the persistent issue facing AI companies today – either enduring long waits for available computing power or grappling with exorbitant costs.

Ruth Galvin of Outlier Ventures encapsulates the sentiment, highlighting exaBITS’s role as a “pivotal player” in providing the decentralized compute infrastructure crucial for scalable growth in AI.

The significance of this funding cannot be overstated. The oversubscription signals robust investor confidence in exaBITS’s team and their technological prowess. Already, exaBITS has demonstrated its value proposition through impressive customer success stories.

One such case study revealed a customer achieving a 71% reduction in compute costs and a 30% boost in training speed after switching to exaBITS from a traditional compute cloud provider. Furthermore, the company’s revenue trajectory, which has seen a 300% monthly growth over the past six months, speaks volumes about the market demand and exaBITS’s capacity to meet it.

exaBITS’ Unique GPU Supply Network and Strategic Alliances

An intriguing aspect of exaBITS’s strategy is its reliance on a vast network of GPU suppliers, which has already contributed over 65,000 GPUs, with plans to onboard an additional 100,000 units shortly. This approach not only exemplifies the company’s innovative supply chain strategy but also its commitment to democratizing access to high-quality AI computing resources.

Support for exaBITS extends beyond financial backing. The company has garnered accolades and support from prestigious accelerators and institutions such as the Stanford Blockchain Accelerator and Harvard Innovation Labs, further cementing its status as a frontrunner in the decentralized computing space.

The implications of exaBITS’s efforts are profound. By leveraging the untapped potential of idle consumer GPUs for AI workloads, the company is paving the way for a more inclusive and efficient computing landscape.

Steven Willinger from Blockchain Builders Fund lauds exaBITS for its “early and unfair access to scarce hardware” and the team’s expertise in optimization and acceleration.

As exaBITS continues to forge partnerships across the infrastructure stack and invites AI developers and GPU owners to join its cause, it stands at the forefront of a new revolution in AI. The company’s blend of technical acumen, drawn from industry giants and top academic institutions, positions it uniquely to lead the charge in democratizing AI innovation.

Read Also: Animoca Ventures Champions KIP Protocol’s Vision: Empowering All to Innovate the Next GPT

RELATED ARTICLES

Most Popular