TechFlow news, according to Chainwire, JDI Group, an investment and hardware manufacturing group in the DePIN space, has jointly invested $20 million with Tensor to launch the Phoenix AI Ecosystem Fund.
The fund is a strategic development initiative aimed at accelerating the growth of the Phoenix AI application ecosystem and investing in artificial intelligence computing infrastructure hardware.
Half of the fund will be allocated to invest in, incubate, and support new applications and AI ecosystem partners to build Phoenix's AI platform. Investment areas will include AI-powered DeFi, trading, Web3 gaming, metaverse, and content creation verticals.
The other portion of the AI ecosystem fund will be used to invest in the hardware and physical infrastructure required to rapidly scale and develop Phoenix's AI computing network.
