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Prime Intellect Secures $5.5M for Decentralized AI Development, Led by Top Investors

Apr 23, 2024, 02:20 PM

Prime Intellect, a new initiative aimed at democratizing AI development at scale, announced a successful funding round of $5.5 million. The funding was led by DistributedG, Coinfund.io, CompoundVC, Collab_Currency, ProtocolLabs, ClementDelangue, Dylan522p, and others. The project focuses on building infrastructure for decentralized AI development, enabling researchers to collaboratively train state-of-the-art models by aggregating global compute resources. Supporters highlight Prime Intellect's potential to transform compute as an industry through its innovative approach to AI research, distributed systems, and crypto. The team expressed excitement about introducing and sharing their work, which addresses important challenges and problems in AI and aims to accelerate the open AI movement.