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Nvidia Strikes $500M Investment Deal for AI Chips

Oct 30, 2023 - financemagnates.com
AI cloud-computing organization Voltage Park, funded by cryptocurrency billionaire Jed McCaleb, has invested around $500 million in Nvidia's advanced chips. The company has secured 24,000 Nvidia H100 chips, designed for large AI models, and plans to lease computing capacity to businesses working on AI projects. The chips are expected to provide affordable AI computing solutions and will be set up in strategic locations like Texas, Virginia, and Washington, with full deployment expected by February.

The demand for advanced AI silicon has surged, particularly after the release of OpenAI's ChatGPT. OpenAI, recognizing the importance of a sufficient supply of AI chips, is exploring the AI chip development space. SoftBank also revealed plans to invest in the AI sector following the successful IPO of its subsidiary, Arm, a leading British chip manufacturer.

Key takeaways:

  • An AI cloud-computing organization funded by cryptocurrency billionaire Jed McCaleb has invested approximately $500 million in Nvidia's advanced chips to address the shortage of AI chips.
  • Voltage Park, the organization behind the investment, has secured 24,000 Nvidia H100 chips and plans to lease computing capacity to businesses engaged in AI projects.
  • OpenAI, the organization behind ChatGPT, is exploring the AI chip development space in response to the pressing shortage of AI chips.
  • SoftBank disclosed plans to invest in the AI space in September, following the successful initial public offering of its subsidiary, Arm, a prominent British chip manufacturer.
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