Fetch.ai announces GPU rewards for token holders after $100M infrastructure investment
Crypto AI project Fetch.ai, built on Cosmos, is allocating $100 million to an infrastructure program, dubbed Fetch Compute, that will expand the tools, computing power, and training capabilities of developers alongside providing GPU credits for its users.
According to the March 5 announcement, Fetch Compute will deploy Nvidia H200, H100 and A100 GPUs to create a platform that developers and users can utilize for computing power, with financing coming from the Fetchi.AI ecosystem fund.
"The move is expected to accelerate the pace of innovation within the fetch.ai ecosystem by providing the capacity to explore complex models and solutions," developers wrote. In addition, "users staking Fetch.ai's native coin $FET will earn Fetch Compute Credits as rewards which they can then use to pay for GPU utilization on the Fetch Compute network," starting on March 7.
Humayun Sheikh, CEO of Fetch.ai, commented: "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." Currently, Fetch.ai's infrastructure is comprised of the search-based AI DeltaV platform, which leverages Language Models (LLMs) and AI agents to match users with computing services.
Introducing: Fetch Compute ️
— Fetch.ai (@Fetch_ai) March 5, 2024
Following a $100M investment in our infrastructure, we have secured the future for our growing ecosystem with a decentralized computing platform, offering advanced AI-focused @nvidia #GPUs ⚡
But wait, there's more for $FET stakers! pic.twitter.com/i9FYkJnkLZ
On Feb. 26, Cointelegraph reported that AI tokens have been rallying as part of chip-maker Nvidia's breakout Q4 2024 earnings. During the quarter, Nvidia announced revenue and earnings of $22.1 billion and $12.3 billion, respectively, representing year-over-year increases of 265% and 769% amid accelerated demand for computing and generative AI. Subsequent to the announcement, Fetch.ai tokens have returned more than 230% and currently trade at $1.78.
Last month, Fetch.ai secured a partnership with Deutsch Telecom for the latter to join as a corporate partner and a validator for the Fetch blockchain.
Related: AI tokens record double-digit gains as market cap doubles in a month
