Leading DePIN investment and hardware manufacturing group JDI and Asia-based AI trading and technology firm Tensor have teamed up to invest $20 million in the Phoenix AI Ecosystem Fund. With this funding, both the growth of the AI application ecosystem will accelerate and the AI computing infrastructure hardware will be enriched.
Phoenix AI Ecosystem Fund Launched with Contributions from JDI Group and Tensor
Phoenix’s AI platform will be expanded through the investment, incubation, and nurturing of new applications and AI ecosystem partners, with half of the AI Ecosystem Fund going toward this purpose. Verticals for content production, metaverse, Web3 gaming, commerce, and AI-enabled DeFi are among the areas that would benefit from investment.
The AI Ecosystem Fund’s other purpose is to invest in the creation of the physical and hardware infrastructure required to expand Phoenix’s AI compute network quickly, in addition to expediting the launch of new apps on the platform. The R&D of PhoenixNode units and the creation of exclusive, higher-caliber AI compute units for later phases will be funded by the AI Ecosystem Fund.
With Phoenix, we have taken a very unique approach to AI. First it’s about the infrastructure – it’s not only about the best GPUs but rather scalability and sustainability in the long run. That’s why we’ve developed cost-effective AI computing nodes that can be scaled in numbers, as well as accessible to almost everyone to own. Second it’s about the AI applications and value – you can only lease GPUs at a margin, but the value created by AI applications is exponentially greater,
Yiming Wang, the CEO of JDI
About Phoenix Global
Phoenix Global, with its headquarters in the United Arab Emirates and the United States, is a leading global investment and consulting firm. The firm, which works with stakeholders in the public and private sectors to support market and company development, serves clients on six continents and provides strategic insights.
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