Crypto Billionaire's Nonprofit Buys $500M in AI Chips to Provide Affordable Access for Startups
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Crypto billionaire Jed McCaleb's nonprofit Navigation Fund bought $500M of NVIDIA's powerful new H100 AI chips.
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The chips were handed to Voltage Park, a for-profit subsidiary, to address the AI chip shortage.
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Voltage Park will lease the chips in a cloud computing program to provide affordable AI computing.
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McCaleb launched Voltage Park as an open-source R&D organization, contrasting big tech's closed AI development.
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Startups like Imbue and Character.ai already use Voltage Park's AI chips for model experimentation.