Berkeley Compute Launches, Secures Investment from Chia Network

FOR IMMEDIATE RELEASE

Berkeley Compute Launches, Secures Investment from Chia Network

The Future of Decentralized GPU Computing

[Berkeley, CA, Sept 24, 2024] – Berkeley Compute, a disruptive startup revolutionizing the AI compute landscape, today announced its official launch and the successful close of its seed investment round led by Chia Network. This marks a significant milestone in Berkeley Compute's mission to democratize access to high-performance computing resources and empower individuals and businesses to harness the full potential of artificial intelligence.

Berkeley Compute is building a groundbreaking platform that leverages blockchain technology to create a decentralized network of GPUs. This approach offers a cost-effective and scalable solution to the growing demand for AI compute power, enabling users to access cutting-edge hardware at a fraction of the cost of traditional cloud providers. The investment will support the development and expansion of the platform, enabling Berkeley Compute to onboard more GPU providers and serve a wider range of AI applications.

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"We believe that the future of AI lies in open source and decentralization," said Paul Hainsworth, founder and CEO of Berkeley Compute. "We are thrilled to use the Chia blockchain to build a decentralized market for tokenized AI compute. We believe the Chia blockchain’s technology advantages in tokenized real world assets (RWAs) and its large network creates a unique opportunity for launching a fast growing decentralized physical infrastructure (DePIN) on Chia.”

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“Berkeley Compute’s efforts to enable more accessible and efficient markets align with the technology we’ve built,” said Gene Hoffman, CEO of Chia Network Inc. “The demand for AI compute continues to rise, and we believe that Berkeley Compute is uniquely suited to execute on their mission, leveraging the Chia blockchain infrastructure.”

Berkeley Compute's protocol will serve as the platform for anyone to be an operator of GPU clusters on a permissionless network, from capital formation, a pooling protocol to automate smooth and consistent payouts to GPU owners, and a marketplace to promote and sell access to their clusters. The protocol also makes it easy for anyone to provide resources to the network by purchasing a GPU NFT, a tokenized digital twin of a physical GPU run by professional datacenter operators. Cash flows from rentals pay out on chain directly to GPU NFT holders, creating a transparent, on-chain record of cash flows to the asset.

GPU owners can also monetize their own idle hardware and earn rewards for contributing to the network, while AI developers can access on-demand compute resources at competitive prices. The platform's flexible marketplace allows users to choose from a variety of rental options, ensuring that they only pay for the resources they need.

With its unique combination of blockchain technology and decentralized infrastructure, Berkeley Compute is poised to disrupt the AI compute market and accelerate the adoption of artificial intelligence across industries. The company's commitment to openness, accessibility, and sustainability sets it apart in a rapidly evolving landscape.

About Berkeley Compute

Berkeley Compute is a pioneering startup building a one market for tokenized compute for AI workloads. The company's protocol leverages blockchain technology to connect GPU owners directly with AI developers, providing a cost-effective and scalable solution to the growing demand for compute resources. Berkeley Compute is committed to democratizing access to AI and empowering individuals and businesses to harness its full potential.

About Chia Network

Chia Network delivers enterprise-grade software and services to enable the tokenization, custody, and trading of any asset, while ensuring auditable authenticity, provenance and proof of ownership. Founded by Bram Cohen, the inventor of BitTorrent, Chia’s secure, sustainable, and regulatory-compliant technology provides the necessary infrastructure for a true global market.

Contact:

Paul Hainsworth
Founder and CEO, Berkeley Compute
[email protected]