GAIB, a pioneering platform creating the financial infrastructure for AI computing, today announced a successful $5m pre-seed funding round.
According to Crypto Briefing, the round saw participation from a consortium of investors, including Hack VC, Faction, and Hashed, supported by strategic investments from Spartan, CMCC, L2IV, Animoca Brands, IVC, MH Ventures, Presto, J17, IDG Capital, 280 Capital, Aethir, and Near Foundation, as well as several angel investors.
The raised capital will be utilized to expand GAIB’s research and development and operations teams, accelerate product iteration, and enhance the robustness of the platform’s infrastructure to meet growing market demands. This investment aims to further GAIB’s objective of pioneering a liquid, decentralized market for enterprise-grade GPUs, a critical move addressing significant gaps in GPU financing and investor accessibility.
GAIB is setting a precedent by tokenizing GPUs and their yields, thus creating a new asset class supported by actual AI demand. This breakthrough introduces direct investment opportunities into AI, traditionally dominated by equity investments in major AI or semiconductor companies. By integrating AI, GPU demands, and blockchain technology, GAIB is creating novel, yield-bearing assets that underpin various decentralized finance (DeFi) use cases. This includes direct GPU exposure, yield products, and diverse portfolio strategies.
“We’re building the first economic layer for AI compute, bringing new investment possibilities into this surging sector,” explained Kony Kwong, founder and CEO of GAIB. “With this funding, we’re transforming GPUs and their yield into a tradable asset class, empowering individuals and institutions to directly engage with the trillion-dollar AI compute market through these new vehicles for direct investment.”
Alex Pack, Co-founder and Managing Partner from Hack VC, expressed enthusiasm about supporting GAIB. “We are thrilled to support GAIB as they unlock direct investment opportunities to the critical AI compute market that has long been dominated by a few large players,” he said.
In addition to the funding, GAIB has also established significant partnerships with industry leaders such as Aethir and io.net, which are pivotal in enhancing the scalability of GAIB’s unique approach to the financialization of compute assets.
Previously, GAIB has engaged in several undisclosed early-stage funding activities which have laid the groundwork for this substantial pre-seed funding initiative.
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
