Funding will be used to build The Prime
Intellect protocol to establish a decentralized AI
ecosystem where participants are rewarded for
contributions
SAN
FRANCISCO, April 23, 2024 /PRNewswire/ -- Prime
Intellect, an open and decentralized AI platform and
protocol democratizing access to computing and intelligence, today
announced a $5.5M seed round co-led
by Distributed Global and CoinFund with participation from
Compound, Collab+Currency and Filecoin Creator Juan Benet with
Protocol Labs, as well as prominent angel investors including
Hugging Face CEO Clem Delangue. The
funding will be used to build out the compute platform, enabling
decentralized training across instances and enabling
co-ownership of AI models by contributing compute, code, data,
capital, or expertise.
Generative AI is poised to become a $1.3
trillion dollar market by 2032, yet AI progress is severely
bottlenecked by the category's operations already leaning heavily
toward a traditional, centralized model of control: startups are
capped by prohibitive computational costs, inflexible contracts,
proprietary models that stifle open collaboration and insufficient
incentives to pool resources and expertise. Prime Intellect is
working to solve these problems through a
decentralized AI platform, powered by advances in
distributed model training. The platform aggregates global compute
power to provide instant, affordable and scalable on-demand
compute. Using Prime Intellect, anyone can help train powerful AI
models and share in their ownership.
"By enabling collective governance of AI models and compute,
Prime Intellect enables anyone to have a stake in the future of
AI," said Vincent Weisser,
Co-Founder, Prime Intellect. "Decentralized AI is one
of the highest impact opportunities in history. We must break down
the barriers that prevent brilliant minds from contributing to our
collective future. Diverse communities of researchers, engineers,
and organizations will be able to come together using the Prime
Intellect platform to create transformative AI capabilities that
would be impossible in isolation."
At the core of the company's platform is the Prime Intellect
(PI) protocol, which provides the critical infrastructure and
cryptoeconomic building blocks to align incentives around
decentralized AI development, including:
- Massively scalable, distributed compute marketplace to make AI
training globally accessible and affordable
- Collective ownership of AI models and compute via the PI
protocol to incentivize contributions of compute, capital,
code and continuous model improvement
- On-chain AI protocol primitives to facilitate trust and
seamless collaboration
- Decentralized governance frameworks to align AI
progress with collective human values
The compute platform is live in beta, aggregating supply
from 10+ centralized and decentralized GPU cloud
providers, offering the most low cost GPUs on demand. Prime
Intellect will soon roll out multi-node compute on-demand (16 to
128+ GPUs) and decentralized training across instances
with optimized orchestration for efficiency. Customers can apply
for early access at primeintellect.ai/.
Prime Intellect cofounders Vincent
Weisser and Johannes Hagemann
offer an unusual and deep combination of AI and web3 experience.
Vincent helped start VitaDAO, the leading organization in
decentralized science, before leading product and AI
at Molecule, the platform for biopharma IP. Johannes built and
scaled distributed training frameworks from scratch at Aleph Alpha,
and received a Best Paper Award for his recent work at NeurIPS
2023. Together they are solving some of the largest pain points for
the wider AI community today, applying web3 primitives for
scalability and alignment.
Einar Braathen, Partner at
CoinFund, commented, "The future of publicly available AI will be
about verifiability and decentralization across the stack. Prime
Intellect will enable a critical component of this through access
to compute, optimized training and tokenized ownership. Vincent and
Johannes are an incredibly talented team, with a rare combination
of experience and vision, and we're thrilled to support them in the
early stages of their journey."
"The Prime Intellect platform removes the barriers of
prohibitive computational costs, long contracts and limited access
to scalable compute," said Lennard
Schmidt, Cofounder at Langdock, an AI platform for team
productivity. "Their platform provides critical infrastructure to
align incentives around decentralized AI
development"
For more information on the beta rollout and vision for the
Prime Intellect protocol, visit the Prime Intellect blog.
About Prime Intellect
Prime Intellect is a
decentralized AI platform and protocol democratizing
access to compute and intelligence. The platform enables the
training of state-of-the-art AI models through globally aggregated
compute, enabling decentralized training across
instances and empowering you to co-own AI models by contributing
compute, code, data, capital, or expertise. To learn more visit
www.primeintellect.ai
About Distributed Global
Distributed Global is an
investment firm focused on the blockchain and digital asset
ecosystem.
About CoinFund
CoinFund is one of the world's first
cryptonative investment firms and a registered investment adviser
founded in 2015. The firm champions the leaders of the new
internet, powered by foresight as active investors to achieve
extraordinary outcomes. CoinFund invests in seed, venture, and
liquid opportunities within the blockchain sector with a focus on
digital assets, decentralization technologies, and key enabling
infrastructure. For more information, visit CoinFund.io,
LinkedIn or join us on X.
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SOURCE Prime Intellect