TechFlow news — According to Reuters, Voltage Park, an AI cloud computing organization funded by cryptocurrency billionaire Jed McCaleb, has purchased around $500 million worth of advanced Nvidia chips for artificial intelligence projects.
Voltage Park owns 24,000 Nvidia H100 chips and aims to provide both long- and short-term, low-cost AI computing to help alleviate the ongoing chip shortage.
The organization plans to establish clusters of Nvidia AI chips in Texas, Virginia, and Washington, with full deployment expected around February.
Since OpenAI launched ChatGPT last year, demand for Nvidia's high-end AI chips has surged. Companies such as Intel and AMD also sell competitive AI chips.
McCaleb is the founder of three well-known cryptocurrency firms—Mt. Gox, Ripple, and Stellar. Voltage Park operates under his nonprofit Navigation Fund and will donate its profits back to the fund. McCaleb himself does not participate in the operations of either entity.
