QumulusAI, an organization constructing GPU-powered cloud infrastructure for synthetic intelligence, has secured a $500 million line of credit score to fund its rising graphics processing unit (GPU) fleet.
In accordance with an announcement shared with CoinDesk, the funding was organized by Permian Labs and shall be distributed by means of USD.AI, a blockchain-based credit score protocol that connects crypto liquidity to real-world infrastructure.
The non-recourse function will enable QumulusAI to borrow stablecoins for as much as 70% of its authorized GPU deployments, offering quicker entry to funds than conventional credit score routes comparable to financial institution loans or enterprise financing, the corporate mentioned.
GPUs are the spine of synthetic intelligence (AI) infrastructure as a result of they’ll course of 1000’s of duties without delay and are important for coaching and operating large-scale AI fashions. Because the demand for AI techniques will increase, so does the competitors to safe entry to the chips that energy them.
QumulusAI’s funding comes as demand for computing energy soars, however capital stays tight for small companies. The majority of the trade’s GPU provide continues to be cornered by tech giants like Google, Meta, and OpenAI within the race for cutting-edge AI fashions.
Permian Labs, which developed the USD.AI framework, tokenizes GPUs into Warehouse Receipt Tokens (GWRT), which can be utilized as on-chain collateral.
“By leveraging Permian Labs’ tokenization framework, we will scale quicker and extra flexibly to fulfill the surge in AI computing demand with out the constraints of conventional funding,” mentioned Mike Maniscalco, CEO of QumulusAI.
Burish, whose mum or dad firm Burish International additionally owns CoinDesk, invested $4 million in USD.AI final month.
