Aethir has raised $100 million in funding to advance AI and gaming.

By Crypto Gloom On Oct 11, 2024

Key Takeaways

Aethir Catalyst includes a $20 million grant program to support technology startups.
The fund will issue 336 million ATH tokens to support AI and gaming projects.

Aethir, a distributed GPU cloud computing company, presentation Launch of Aethir Catalyst, a $100 million investment fund aimed at accelerating the development of AI and gaming projects.

🔥 Big News Community,

We’re excited to announce a massive $100 million ecosystem fund designed to support bold, ambitious projects through financial support and foster the growth of the AI and gaming ecosystem 🎉

The first phase of the $100 million Ecosystem Fund includes: pic.twitter.com/00lgF8byh7

— Aethir (@AethirCloud) October 10, 2024

Designed to support both early-stage startups and enterprises, the Aethir Ecosystem Fund includes Aethir Catalyst, a $20 million dedicated grants program supported by the Aethir Foundation.

Awarded in ATH, Aethir’s native utility token, Aethir Catalyst grants are tailored to meet the unique needs of each project. The program will distribute 336 million ATH tokens over the next year to help scale operations by equally supporting AI and gaming initiatives.

Aethir detailed its commitment to breaking down barriers for AI and game developers, especially those facing high-performance computing challenges.

As part of this initiative, Aethir is leveraging its extensive cloud network powered by more than 43,000 GPUs and 3,000 NVIDIA H100 GPUs to provide essential computing resources.

“By allocating $20 million from the Aethir Foundation’s $100 million fund, we are ensuring that the most promising AI and gaming companies have the resources they need to grow,” said Mark Rydon, Chief Strategy Officer at Aethir. “He said.

The initiative is expected to support more than 100 projects, focusing on four categories: gaming innovators, pre-release projects, AI integrators, and cloud gaming platforms. Each application is evaluated based on innovation, growth potential, computing requirements, and community impact.