Qumulusai, a GPU-built-enabled company infrastructure for artificial intelligence, is locked in a $ 500 million credit facility to fund the growing armada of graphics processing units (GPU).
Financing is organized by Permian Labs and will be shared via USD.Aai, a blockchain-based protocol that connects crypto liquidity to real-world infrastructure, according to an announcement shared with CoinDesk.
The non-recourse facility will allow Qumulusai to borrow stablecoins against up to 70% of GPU’s approved deployment, which provides faster access to the company to capital than traditional credit routes such as bank loans or adventure debt, the company said.
GPUs are the spine of the infrastructure of artificial intelligence (AI), as they can handle thousands of activities at the same time and critical for the training and operation of large AI models. As the demand for AI systems grows, so is the breed to secure access to chips that have power over them.
Qumulusai funding comes as demand for computing strengths, but capital for smaller operators remains tight. Most of the GPU supplies of the industry are still -cornered by giant tech such as Google, Meta and Openai in the race for the most advanced AI model.
Permian labs, that USD.AI framework was developedTokenize GPUs in the tokens of the warehouse receipt, GWRS, which can be used as collateral on-chain.
“By stealing the Permian Labs tokenization plot, we can measure faster and more flexible – meets the advancement of AI compute demand without obstacles of legacy financing,” said Qumulusai CEO Mike Maniscalco.
Bullish, whose parent company Bullish Global also has CoinDesk, last month Investing $ 4 million in USD.AI.
