Crypto Billionaire Backs New Nonprofit, Securing $500M in AI Chip Donations
In today's rapidly evolving tech landscape, it's surprising to see a blockchain billionaire stepping in to provide the computational power necessary for generative AI development, rather than traditional Big Tech companies. Recently, Jed McCaleb, co-founder of notable blockchain ventures such as Stellar, Ripple, and Mt. Gox, along with the aerospace firm Vast, announced the launch of a 501(c)(3) nonprofit organization. This initiative has acquired 24,000 Nvidia H100 GPUs to establish data centers aimed at leasing computing capacity to innovative AI projects.