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Venture Capitalists Bet Big on AI-Blockchain Merger
Venture capital firms have invested more than $90 million in related projects to demonstrate their confidence in the fusion of artificial intelligence (AI) and blockchain.
These investments are part of a broader trend reflecting growing interest in exploiting synergies between these two advanced technologies.
AI Innovation Gets a Boost: Compute Labs and Sentient Labs Secure Major Funding
Compute Labs, a Solana-based protocol focused on GPU tokenizationrecently announced a $3 million pre-seed funding round. Protocol Labs led the round, which included participation from notable investors such as Blockchain Coinvestors, MH Ventures, and OKX Ventures.
The company plans to use the funds to expand its core project team and complete the development of its first GNFT vault round, scheduled for mid-July. These developments will further solidify the company’s position in the market and attract additional interest from investors.
To know more: AI in Finance: Top 8 Artificial Intelligence Use Cases for 2024
Compute Labs, incubated by NVIDIA Inception VC Alliance, aims to tokenize enterprise-grade GPUs. This mechanism will make them accessible to a broader range of investors through its GPU Restaking solution. Albert Z., founder and CEO of Compute Labs, highlighted the company’s mission to democratize access to these assets, allowing mainstream investors to participate in the computing economy.
Meanwhile, earlier this week, Sentient Labs, an AI startup co-founded by Sandeep Nailwal, lifted up $85 million from investors. Peter Thiel’s Founders Fund led this seed funding round, with Pantera Capital and Framework Ventures also participating.
Sentient Labs is developing an open-source platform that will allow developers to get paid for their contributions to emerging AI tools, such as chatbots and enterprise software. The company plans to launch a testnet for the Sentient platform in Q3, marking a significant milestone in its development.
The company aims to reward engineers for tasks like labeling and data refinement, which are crucial for training AI models. The platform is being developed using Ethereum Level 2 (L2) Polygon Software.
Investors are betting big on AI-Blockchain synergy
The success of these funding rounds signals continued interest in AI and computing infrastructure. It also reflects broader investor optimism about the potential of AI-blockchain projects to reshape the financial sector.
Cristian Mogodici, founder and CEO of Zaya AI, highlighted the transformative potential of combining artificial intelligence and blockchainHe believes that this combination significantly improves functionality and safety of smart contracts. Additionally, Mogodici noted that blockchain’s decentralized architecture democratizes AI technologies, making them more scalable and accessible.
“These models take advantage of the collective computational power of blockchain nodes, facilitating the distribution and processing of large data sets across the network. This collaborative approach improves AI scalability and reduces dependence on centralized data centers, expanding the availability of AI resources. Additionally, blockchain’s transparency and immutability support ethical AI deployment. Recording AI decision-making on a blockchain ensures accountability and traceability, addressing AI biases and ethical concerns,” he explained to BeInCrypto.
To know more: How will artificial intelligence (AI) transform cryptocurrencies?
Artificial Intelligence dominates the cryptocurrency market theme. Source: Greyscale
Grayscale’s latest report also highlights that Artificial intelligence has emerged as a key theme in the industryparticularly in the sectors of Smart Contract platforms and public utilities and services. The insights of the experts and these investments consolidate the potential of the convergence of AI and blockchainThis combination fuels innovation, attracts significant investment and drives market performance.
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