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Lightning AI and Ripple co-founder-supported Voltage Park merge, valued at over $2.5 billion
GateNews
Odaily Planet Daily News: AI startup Lightning AI has merged with computing power provider Voltage Park, aiming to create a “full-stack AI cloud.” The combined company will be named Lightning AI, with a valuation of over $2.5 billion and annual recurring revenue exceeding $500 million. Lightning AI is the developer of the open-source tool PyTorch Lightning, while Voltage Park was established with $900 million in funding from the Navigation Fund, a nonprofit organization founded by Ripple co-founder and Mt. Gox co-founder Jed McCaleb. The company manages over 35,000 Nvidia GPUs. After the merger, the Navigation Fund under Jed McCaleb will hold a significant stake in the new company. (Forbes)
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