ExaBITS Raises Oversubscribed Round Addressing GPU Shortage in AI

San Francisco, California--(Newsfile Corp. - February 2, 2024) - ExaBITS.ai, a pioneer in the decentralized cloud computing space for AI, is pleased to announce the closing of its oversubscribed pre-seed round. The funding will enable the team to scale the GPU optimization technology to address the shortage of resources that has left AI companies in limbo waiting for available compute or paying inflated rates.

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The company is trusted by prominent investors, including Protocol Labs, Outlier Ventures, Jabre Capital Partners, Valkyrie Fund, Big Brain Holdings, Blockchain Builders Fund, Taisu Ventures, Fortified Ventures, LBank Labs, Paramita Capital, Moonhill Capital, IoTeX,1nvest, the Founder of Gitcoin and Angels of Worldcoin, and Planet.com.

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The oversubscription of this round signals strong investor confidence in the ExaBITS team and the company's capabilities, as the company already delivered immense value to customers and partners. A recent case study has revealed that one customer previously spending $150k per month at a compute cloud provider achieved a 71% reduction in costs and a 30% increase in training speed after switching to ExaBITS. ExaBITS revenue has surged over the past 6 months growing an average of 300% every month highlighting the rapid growth and market demand.

"Demand for AI computing power is growing exponentially - ExaBITS stands out as a pivotal player, providing the decentralized compute infrastructure that's essential for scalable growth. Zach, Hoansoo, and their adept team bring deep technical expertise to not just meet, but anticipate the infrastructure needs of tomorrow," adds Ruth Galvin of Outlier Ventures

Strategic Partnerships and Network Expansion

ExaBITS contributes its success to its suppliers, which have contributed over 65,000 GPUs to the network with over 100,000 scheduled for onboarding soon.

In addition to its investors, ExaBITS has garnered support from, the Stanford Blockchain Accelerator, Harvard Innovation Labs, OV Base Camp, Berkeley Blockchain Xcelerator, and Google Cloud and has won top awards in various competitions.

"ExaBITS is exciting, not just because of their early and unfair access to scarce hardware, but because of their team's deep technical expertise in optimization and acceleration which will enable idle consumer GPUs to realistically take over workloads from high-end machines," said Steven Willinger, Partner at Blockchain Builders Fund and Alumni Chair of the Stanford Blockchain Accelerator.

ExaBITS is comprised of seasoned professionals in the field of cloud computing and technology, hailing from prestigious institutions such as Nvidia, Meta, BitMain, The White House, Ericsson, Tiktok, and VMWare, as well as esteemed universities including Stanford, Harvard, Princeton and UC Berkeley ready to democratize access to builders innovating the AI industry.

As ExaBITS advances in the decentralized computing domain, they invite forward-thinking organizations, AI developers, and GPU owners to join the mission. Partnerships have been formed across the infrastructure stack, from verification of computing, to application layer protocols, and other decentralized computing platforms. For those who share the vision of democratizing building and shaping the future of the space, ExaBITS welcomes users to join the new revolution in AI.

Learn More About ExaBITS. ExaBITS.ai
For more information contact@exabits.ai

Media contact
Contact: Roy Evans
Company Name: ExaBITs Network LTD.
Phone: +1 650 642 8104
Website: https://www.exabits.ai
Email: contact@exabits.ai

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