New Nonprofit, Voltage Park, Backed By Crypto Billionaire, Supplies $500M Worth Of AI Chips


A new nonprofit organization, backed by blockchain billionaire Jed McCaleb, has made a significant move in the world of artificial intelligence (AI). The organization has purchased 24,000 Nvidia H100 GPUs, with an estimated value of $500 million, to develop data centers that will offer leasing capacity to AI projects.

Key Takeaway

A new nonprofit organization, Voltage Park, backed by crypto billionaire Jed McCaleb, has purchased $500 million worth of Nvidia H100 GPUs to support AI projects. By providing access to compute power on a leasing basis, Voltage Park aims to address the shortage of GPUs and unlock innovation in the AI industry. This move has the potential to democratize access to AI resources for startups and researchers.

Blockchain billionaire’s foray into AI

In a surprising development, Jed McCaleb, known for his involvement in blockchain startups like Stellar, Ripple, and Mt Gox, has launched a nonprofit organization. This organization aims to provide AI startups, scale-ups, and research organizations with access to vital resources. The organization, Voltage Park, has already deployed the massive cluster of GPUs, which is among the largest in the world, to support startups Imbue and in their AI model experimentation.

The need for compute power in AI

Many companies rely on GPU-based hardware for training AI models, particularly generative AI models like ChatGPT and Stable Diffusion. However, there is a shortage of these compute chips, leading to supply constraints and limiting AI innovation. Startups and scale-ups often struggle to meet the high minimum purchase thresholds or sign large contracts with cloud providers to access these chips.

Addressing the compute shortage

Voltage Park’s mission is to unlock access to cutting-edge compute resources for startups and researchers who are currently blocked due to restrictive contracts and scarce supply. The nonprofit aims to build clusters of GPUs to meet the needs of as many customers as possible. By providing access to these GPUs on a leasing basis, Voltage Park aims to lower the barrier to entry and make machine learning infrastructure more accessible.

A unique structure for philanthropy

Voltage Park is a subsidiary of the Navigation Fund, a nonprofit established by Jed McCaleb. The Navigation Fund purchased the GPUs and transferred their ownership to Voltage Park for specialized operations. It should be noted that McCaleb does not run or profit from Voltage Park or the Navigation Fund. The Navigation Fund has a broader philanthropic mission and plans to support various sectors, including AI safety, climate, and animal welfare.

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