Prime Intellect, a decentralized artificial intelligence (AI) firm, has secured $5.5 million in seed funding to build a new infrastructure for collaborative AI development.
Key Points:
- The funding round was co-led by CoinFund and Distributed Global, with participation from prominent names in the crypto and tech space.
- Prime Intellect’s platform aggregates computing power from both centralized and decentralized sources, offering on-demand, low-cost resources for AI development (currently in beta).
- The company aims to launch a decentralized protocol allowing users to co-operatively train AI models and collectively own parts of them.
Democratizing AI Development:
This funding round highlights the growing interest in decentralized approaches to AI development. Prime Intellect believes current, centralized models limit accessibility and control. Their platform aims to:
- Reduce Costs: By aggregating computing power from various sources, they aim to offer cost-effective resources for AI development.
- Foster Collaboration: Their platform facilitates collaborative training of AI models, potentially involving a wider range of participants.
- Incentivize Ownership: The planned decentralized protocol could allow users to own parts of the AI models they help train.
(Source: The Block)
Overall, this funding round signifies a growing interest in decentralized AI development, with Prime Intellect aiming to make AI development more accessible and collaborative through their platform and planned protocol.