BEAM Foundation launches $40m initiative for AI and crypto computing
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Aethir, Beam Foundation, and MetaStreet have partnered to launch Tactical Compute, a $40 million initiative designed to meet the growing demand for computing power in artificial intelligence and blockchain. The initiative leverages Aethir’s decentralized GPU network, Beam (BEAM) Investments, and MetaStreet’s DeFi infrastructure to create opportunities for monetizing compute resources. Tactical Compute will operate under Tactical Compute Holding Limited, focusing on compute-related opportunities such as hardware financing, private yield arbitrage, and network bootstrapping, as detailed in a Beam Medium post. Introducing Tactical Compute.@BeamFDN x @AethirCloud x @metastreetxyz A $40M initiative that leverages the rising demand for computing power. Operating at the intersection between crypto and artificial intelligence 🧠 Supported by @sophon. Learn more 🔍 pic.twitter.com/Hsq4e6WOau — Beam Foundation (@BeamFDN) December 6, 2024 These efforts center on meeting the increasing demand for computing resources while integrating crypto-based innovations. Tactical Compute plans to address this imbalance by finding profitable opportunities within the compute market. One example is “farming” Aethir (ATH) tokens, which is akin to earning credits for using Aethir’s GPUs, much like Microsoft’s Azure credits for its cloud infrastructure. Industry backing and goals The Beam Foundation is contributing $5 million to the initiative alongside notable backers, including the Sophon Foundation. According to Daniel Wang, CEO of Aethir, the partnership “positions us to unlock new opportunities in compute resource monetization and drive innovation in scalable AI and decentralized technologies.” MetaStreet, through its development arm Permian Labs, brings its expertise in DeFi tools for financing GPU-powered nodes. Co-founder David Choi noted that Tactical Compute “builds on our foundation by addressing the growing demand for compute infrastructure, driving innovation at the intersection of crypto, AI, and infrastructure.” Source: https://crypto.news/beam-foundation-launches-40m-initiative-for-ai-and-crypto-computing/
Filed under: News - @ December 6, 2024 10:21 pm