Fetch.ai Invests $100M in Upgrade Program to Boost Developer Capabilities and Rewards
Summary:
Fetch.ai, a crypto AI project based on Cosmos, is committing $100 million to its Fetch Compute infrastructure program. The program aims to enhance developers' tools and computing capabilities and provide GPU credits for users. Utilizing Nvidia GPUs, the program will facilitate complex models exploration and solution development. Users staking Fetch.ai's native coin $FET will earn Fetch Compute Credits as rewards for GPU utilization on the Fetch Compute network. Furthermore, following Nvidia's substantial Q4 2024 earnings, Fetch.ai tokens returned over 230% and have a current trading value of $1.78.
The crypto AI venture, Fetch.ai, based on Cosmos technology, is committing $100 million to their infrastructure scheme known as Fetch Compute. This initiative aims to reinforce the skills, resources, and computational capabilities available to developers while awarding its participants with GPU credits. Fetch.ai disclosed on March 5 that the vision behind Fetch Compute is to employ Nvidia H200, H100, and A100 GPUs, the funding for which will originate from the Fetch.AI ecosystem fund to create a usable compute platform for developers. They believe this step will boost innovation within fetch.ai's sphere by offering the potential to scrutinize intricate models and solutions. Moreover, those staking Fetch.ai's native $FET will earn Fetch Compute Credits as incentives, which can be used to cover GPU use on the Fetch Compute network, starting from March 7.
Fetch.ai's CEO, Humayun Sheikh, says that the combination of abundant compute resources with their unique credit system consents to offering their community the backing and tools required for realizing their AI projects. Presently, the foundation of Fetch.ai includes the AI DeltaV platform that utilizes Language Models (LLMs) and AI agents for syncing users with computing services.
Previously on Feb. 26, Cointelegraph highlighted the surge of AI tokens in the wake of Nvidia's explosive Q4 2024 earnings. Within this quarter, Nvidia reported a revenue and earnings surge to $22.1 billion and $12.3 billion, respectively, marking a year-to-year increase of 265% and 769% due to the heightened demand for computing and generative AI. Following this celebration, Fetch.ai tokens experienced over 230% return and now have a trading value of $1.78. In previous news, Fetch.ai announced a collaboration with Deutsch Telecom last month, where the latter has agreed to become a corporate partner and a validator for the Fetch blockchain. Related: AI tokens record double-digit gains as market cap doubles in a month.
Published At
3/5/2024 10:18:12 PM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.