Fetch.ai introduces Fetch Compute, its new $100 million project

Fetch.ai recently announced advanced GPUs after a $100 million infrastructure investment.

Titled Fetch Compute, the project will secure the expansion of the training capabilities and tools available to developers and users. The project has been designed to elevate users’ ability to develop advanced apps to solidify the foundations of AI.

According to Fetch.ai’s latest PR, the $100 million project will deploy Nvidia H100, A100, and H200 GPUs to develop a new platform. It will be used to help users and developers utilize their computing power.

The development can boost the pace of innovation in the Fetch.ai ecosystem, opening up complex solutions and models. The Fetch Ecosystem Fund has funded the operation, intending to address GPU scarcity and set new standards for businesses and developers globally.

After the announcement, Fetch.ai has gained 34.14% value in 24 hours alone. The coin is trading at $2.70, with a 109.23% surge in the past 7 days. According to the latest Fetch.ai coin price prediction, the coin can be a decent investment pick for traders.

Coming back to the press release, Fetch.ai also introduced a new reward mechanism for its community members. After March 7, 2024, every user staking $FET tokens will get rewarded with Fetch Compute Credits. These credits can be used to settle the GPU utilization fees on the network.

Fetch.ai’s CEO, Humayun Sheikh, also commented on the development. According to Sheikh, Fetch Compute is more than an infrastructure investment; it is an investment for AI’s future and the ecosystem of developers pushing the limits of what is possible in the Fetch.ai ecosystem.

With the rewards system, FET token holders will directly benefit from the expansion while earning Fetch Compute Credits. The AI development leader is set to create a dynamic marketplace connecting users with services while redefining the search experience.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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