{"id":24335,"date":"2023-10-30T16:44:13","date_gmt":"2023-10-30T16:44:13","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/jed-mccaleb-backed-nonprofit-will-provide-easier-access-to-ai-computing-capacity\/"},"modified":"2023-10-30T16:44:16","modified_gmt":"2023-10-30T16:44:16","slug":"jed-mccaleb-backed-nonprofit-will-provide-easier-access-to-ai-computing-capacity","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/jed-mccaleb-backed-nonprofit-will-provide-easier-access-to-ai-computing-capacity\/","title":{"rendered":"Jed McCaleb-backed nonprofit will provide easier access to AI computing capacity"},"content":{"rendered":"<p><\/p>\n<div data-v-8081b7b6=\"\">\n<p>Ripple co-founder Jed McCaleb\u2019s nonprofit Navigation Fund is helping to tackle the AI chip shortage by offering leasable capacity large machine learning models. A new cloud was officially launched on Oct. 29 that will be accessible on an hourly, monthly or long-term basis.<\/p>\n<p>An organization called Voltage Park \u201ccurrently offer[s] bare-metal access for large-scale users that need peak performance\u201d and expects to expand its service by early 2024, according to a statement on its website. It has around 24,000 NVIDIA H100 graphics processing units (GPUs) grouped into interconnected clusters. Voltage Park is a subsidiary of Navigation Fund.<\/p>\n<p>The hardware is worth $500 million. Clusters will be set up in Texas, Virginia and Washington, Voltage Park CEO Eric Park told Reuters. Park joined the organization in July.<\/p>\n<p><strong><em>Related: Stellar Co-founder Brands 90% of Crypto Projects \u2018B.S.\u2019<\/em><\/strong><\/p>\n<p>Voltage Park is currently auctioning off contracts with lengths of one-to-three months on 1,560 GPUs. It said in its announcement:<\/p>\n<blockquote><p>\u201cThe market for cutting-edge ML compute is broken. Startups, researchers and even big AI labs are scrambling to buy or rent access to the latest chips for ML training. [\u2026] We\u2019re on a mission to make machine learning infrastructure accessible to all.\u201d<\/p><\/blockquote>\n<p>The Navigation Fund was founded in 2023 with plans to provide a small number of grants this year and expand its programs in early 2024. It plans to advance a number of causes in addition to \u201csafe AI.\u201d<\/p>\n<p>Billionaire McCaleb created Mt. Gox to trade Magic: The Gathering cards, then repurposed it as a Bitcoin (BTC) exchange and sold it in 2011, three years before its collapse. He went on to become a co-founder of Ripple Labs and, after leaving Ripple on bad terms with the rest of the management, he co-founded the Stellar blockchain. He also created a space station startup in 2022 that has partnered with Elon Musk\u2019s SpaceX. <\/p>\n<p><strong><em>Magazine: \u2018AI has killed the industry\u2019: EasyTranslate boss on adapting to change<\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ripple co-founder Jed McCaleb\u2019s nonprofit Navigation Fund is helping to tackle the AI chip shortage by offering leasable capacity large machine learning models. A new cloud was officially launched on Oct. 29 that will be accessible on an hourly, monthly or long-term basis. An organization called Voltage Park \u201ccurrently offer[s] bare-metal access for large-scale users [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24336,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-24335","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Jed McCaleb-backed nonprofit will provide easier access to AI computing capacity | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/jed-mccaleb-backed-nonprofit-will-provide-easier-access-to-ai-computing-capacity\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jed McCaleb-backed nonprofit will provide easier access to AI computing capacity | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"Ripple co-founder Jed McCaleb\u2019s nonprofit Navigation Fund is helping to tackle the AI chip shortage by offering leasable capacity large machine learning models. 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