The deal also benefits Oracle by introducing them to the next generation of companies as early as possible. Index Ventures portfolio companies are encouraged to develop relationships with Oracle and other large cloud providers and sign their own dedicated contracts. Erin Price-Wright, a partner with Index Ventures, believes that AI is still in its early stages and will become a core component of all software in the future.
Key takeaways:
- Index Ventures has partnered with Oracle to provide GPUs to its early-stage portfolio companies, helping them overcome the challenge of securing compute power for their AI startups.
- The partnership involves Index making pre-commitments on behalf of its startups and paying the cloud bill, while Oracle manages the GPU cluster. The startups get access to the GPU cluster for free.
- The goal is to help these companies graduate to their own cluster, develop relationships with Oracle and other large cloud providers, and sign their own dedicated contracts.
- Erin Price-Wright, a partner with Index Ventures, believes that every piece of software will have AI as its core component in the future, and that AI is a core building block in software development, similar to a database.