Aethir sets up $100M fund for AI and gaming advancements

Source: Crypto Briefing

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Aethir, a decentralized GPU cloud computing company, has announced the launch of the Aethir Catalyst, a $100 million investment fund aimed at accelerating the development of AI and gaming projects.

🔥 Big news Community,

We are super excited to announce a massive $100 million Ecosystem Fund designed to support bold, ambitious projects with financial backing and to stimulate AI and Gaming ecosystem growth 💥

The first phase of our $100 million Ecosystem Fund features… pic.twitter.com/00lgF8byh7

— Aethir (@AethirCloud) October 10, 2024

The Aethir Ecosystem Fund, structured to support early-stage startups and enterprises alike, includes the Aethir Catalyst—a dedicated $20 million grant program backed by the Aethir Foundation.

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

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

As part of this initiative, Aethir is utilizing its expansive cloud network, powered by over 43,000 GPUs and 3,000 NVIDIA H100 GPUs, to provide essential compute resources.

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

The initiative is expected to support over 100 projects, with a focus on four categories: gaming innovators, pre-launch projects, AI-integrated enterprises, and cloud gaming platforms. Each application is evaluated based on innovation, growth potential, computing needs, and community impact.

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Author: Estefano Gomez