AI Tokens & Computing Infrastructure

Covenant AI announced on April 10 that it was withdrawing from the Bittensor network, accusing key figure Jacob Steeves of betraying the promise of decentralization and citing multiple suppression actions. Covenant AI emphasized that the apparent decentralized governance of Bittensor is actually controlled by a single person, creating a “decentralization theater.” The team’s decentralized LLM pretraining project, Covenant-72B, has significant influence in the industry; this withdrawal is seen as a proactive choice rather than a failure.

Gate News message: On April 10, according to Gate market data, as of the time of publication, VVV (Venice) is trading at $8.03. In the past 24 hours, it has pumped 19.99%, with a highest of $8.00 and a lowest pullback to $6.64. The total trading volume over the past 24 hours reached $834,000. Current market cap is approximately $364 million. Venice is a privacy-focused artificial intelligence platform that offers services such as generating conversations and image creation, but does not store user data. Users can privately or anonymously access industry-leading AI models including Claude Opus, GPT-5.2, Flux 2, and more, while also enjoying fully private data protection—every AI prompt is kept on the user’s device and is not stored on servers. In addition, Venice aims to eliminate platform

Covenant AI announced that it is exiting the Bittensor network, questioning the authenticity of its decentralized governance structure and believing that decision-making power is centralized and lacks transparency. In recent subnet operations, it encountered improper behavior such as adjustments to management privileges. It believes this is inconsistent with the principles of decentralization. Covenant AI will continue to push forward in the direction of decentralized AI training.

AlphaTON Capital announces a collaboration with Vertical Data Inc. to raise $43 million to expand AI compute infrastructure, with an expected completion in 2026. The funding will deploy NVIDIA B300 GPUs, driving the convergence of AI, digital assets, and confidential computing, and will focus on investing in Cocoon, the decentralized AI platform under Telegram.

CoreWeave and Meta have reached a new agreement to provide AI cloud capacity through 2032, with a transaction value of approximately $21 billion. This agreement is built on the prior $14 billion partnership, and the added capacity will include the first deployments of NVIDIA Vera Rubin platform.

TON treasury company AlphaTON Capital and Vertical Data signed a strategic financing agreement of about $43 million, expected to be completed in 2026. The financing will be used for AI hardware deployment and the build-out of privacy computing infrastructure, supporting the development of applications with partners such as Telegram.

Galaxy Digital releases its first annual report. Its founder, Mike Novogratz, says that the listing signals that the digital economy is now a reality. The company will shift its focus to compliant financial infrastructure, actively develop AI projects, and expects its Helios data center investment to exceed $15 billion, aiming to build a $1 billion-level asset portfolio.