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The initiative aims to lower costs in cloud computing, increase revenue for GPU owners, and bolster innovation in the AI space. 

io.net, a Web 3 decentralized cloud service provider, has announced its plans to build the world’s largest decentralized computing service network by onboarding a million GPUs from independent computing power providers. In a statement this Wednesday, the company aims to reduce the shortage of GPUs for AI processing, enabling innovation and growth of the industry. Once complete, the cloud computing network – Decentralized Physical Infrastructure Network (DePIN) – will be the largest decentralized cloud ecosystem for machine learning.

The Web 3 startup provides developers with a decentralized cloud for GPU computing power by aggregating GPUs from multiple sources into a single platform. In a one-click step, engineers and developers can select their preferred options such as cluster type, GPU type, and purpose, allowing them to get up and running in seconds. This aims to fuel more innovation in the AI space and power startups in new technologies while incentivizing GPU computing power providers. 

“AI is one step away from starting the Fourth Industrial Revolution but current GPU providers can’t support the scale and speed of innovation. io.net will be able to connect one million GPUs distributed across the globe in under 90 seconds, giving AI startups access to essential processing power on demand,” Ahmad Shadid, Founder & CEO of io.net stated upon the launch of the DePIN. 

The dearth of AI chips has been exacerbated in the past few years, as AI rose as the leading novel technology. Despite Nvidia, the largest producer of GPU chips, witnessing an explosion in its market cap – to over $1 trillion dollars earlier this year, the extreme demand for GPUs has risen tenfold, making it impossible for the firm to satisfy the demand. This has caused the cost of training large-scale AI models to rise by around 3,100% per year, leading to rising costs and lengthy lead times to access cloud services. 

The incentivization model of io.net for GPU owners

To curb the shortage of AI chips, io.net is proposing a decentralized GPU computation network. This network will offer tech companies access to idle

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Author: CryptoDaily

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