Posted 1/13/2024, 12:17:00 PM
DigitalOcean Acquires Paperspace to Bring Affordable AI to Small Business
- DigitalOcean recently acquired Paperspace to provide AI capabilities to small and midsize businesses, an area overlooked by major cloud providers
- Paperspace offers GPUs from Nvidia and other AI hardware at up to 70% cheaper rates than Microsoft Azure
- DigitalOcean estimates 43% of developers already use AI tools, with 78% planning to increase usage in 2023
- Ark Investment Management forecasts massive $41 trillion total investment in AI by 2030, benefiting cloud providers
- DigitalOcean stock is down 71% from 2021 highs despite improved profitability, presenting a buying opportunity