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Fetch.ai allocates $100M to expand compute infrastructure

TL;DR

  • Fetch.ai invests $100 million to improve infrastructure, offering GPU resources for developers and users.
  • Stakers of Fetch.ai’s $FET coin earn Fetch Compute Credits for GPU access from March 7, boosting community involvement.
  • A partnership with Deutsche Telekom and surging Fetch.ai token values indicate confidence in its AI and blockchain potential.

Fetch.ai, the crypto artificial intelligence project built on Cosmos, has announced a significant initiative to bolster its infrastructure capabilities. The project is allocating a substantial $100 million to fund the development of Fetch Compute, an expansive program set to enhance tools, computing power, and training resources for developers. This move is poised to propel innovation within the Fetch.ai ecosystem, marking a significant milestone for the project.

Fetch Compute: Empowering developers with enhanced resources

Fetch Compute, the brainchild of Fetch.ai, is slated to revolutionize the landscape for developers and users alike. Leveraging Nvidia’s cutting-edge GPU technology, including H200, H100, and A100 GPUs, Fetch Compute aims to provide a robust platform for harnessing computational power. This initiative empowers developers to explore complex models and solutions, accelerating innovation within the Fetch.ai ecosystem.

One of the standout features of Fetch Compute is its integration with the Fetch.ai native coin, $FET. Users who stake $FET will have the opportunity to earn Fetch Compute Credits as rewards. These credits can subsequently be utilized to access GPU resources on the Fetch Compute network. This incentivization mechanism rewards participants and fosters greater engagement within the Fetch.ai community.

Humayun Sheikh, CEO of Fetch.ai, expressed his enthusiasm for the initiative, stating, “By marrying substantial compute resources with our unique compute credit system, we’re ensuring that our community has the support and tools necessary to bring their visionary AI projects to life.” This strategic alignment of resources underscores Fetch.ai’s commitment to empowering its community of developers and users.

Strategic partnerships fuel growth

Strategic partnerships further augment Fetch.ai’s trajectory toward innovation and expansion. In a recent development, Fetch.ai secured a partnership with Deutsche Telekom, one of Europe’s leading telecommunications companies. Deutsche Telekom will serve as a corporate partner and validator for the Fetch blockchain, contributing to the project’s ecosystem growth and validation process as part of this collaboration.

Riding the wave of AI token rally

The announcement of Fetch Compute comes on the heels of a remarkable period for AI tokens, coinciding with Nvidia’s stellar Q4 2024 earnings report. Nvidia, a prominent chip-maker, reported unprecedented revenue and earnings driven by heightened demand for computing and generative AI solutions. 

Fetch.ai tokens have witnessed a surge in value, reflecting investor optimism and market confidence. Since the earnings announcement, Fetch.ai tokens have recorded a remarkable return of more than 230%, currently trading at $1.78.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Benson Mawira

Benson is a blockchain reporter who has delved into industry news, on-chain analysis, non-fungible tokens (NFTs), Artificial Intelligence (AI), etc.His area of expertise is the cryptocurrency markets, fundamental and technical analysis.With his insightful coverage of everything in Financial Technologies, Benson has garnered a global readership.

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