United

Galaxy

Connect

Bitcoin

Million

Cerebras Systems, a Silicon Valley-based company, has secured a substantial deal worth approximately $100 million with G42, a technology group headquartered in the United Arab Emirates (UAE). 
The agreement encompasses the provision of an initial installment of an artificial intelligence (AI) supercomputer, with the potential of delivering up to nine more units, as stated in a press release on July 20. 
G42 has committed to obtaining three Condor Galaxy systems from Cerebras, which form an innovative network comprising nine interconnected supercomputers. 
The first supercomputer in this network, known as Condor Galaxy 1 (CG-1), boasts an impressive performance of 4 exaflops and is built on a framework of 54 million cores. 
To expedite deployment, the manufacturing of these systems will take place in the United States. The first supercomputer, CG-1, is slated to be operational by the end of this year, while CG-2 and CG-3 are expected to go online in early 2024. 
READ MORE: <a href="https://www.cryptointelligence.co.uk/chainlink-launches-cross-chain-interoperability-protocol-to-connect-traditional-finance-with-blockchain/" rel="noopener noreferrer nofollow">Chainlink Launches Cross-Chain Interoperability Protocol to Connect Traditional Finance with Blockchain</a> 
The timing of this agreement is significant, as cloud computing providers worldwide are actively seeking alternatives to Nvidia chips, which currently dominate the AI computing market. 
With Nvidia’s products facing shortages due to high demand from AI services like ChatGPT and others, Cerebras and other startups are striving to challenge Nvidia’s market dominance in the AI computing sector. 
Cerebras CEO Andrew Feldman revealed that discussions are already underway for the potential acquisition of up to six additional supercomputers by late 2024. 
The company, in collaboration with G42, aims to expand the supercomputer network, with plans to establish an impressive 36 exaflops of AI computing power in the coming year. 
To support the advancement of its computing services using the supercomputers, Feldman expressed his intention to relocate to the UAE for three months, working closely with G42. 
He views this endeavor as a “rare opportunity to revolutionize a massive market.” 
G42, based in Abu Dhabi, intends to leverage the Cerebras systems to offer AI computing services to healthcare and energy companies. 
In response to inquiries, Cerebras has not yet provided further details on the terms of the deal or its future plans. 
Overall, this partnership between Cerebras and G42 represents a significant move in the AI computing industry, as it not only addresses the current challenges posed by chip shortages but also seeks to expand and revolutionize the potential of AI computing services. 
Other Stories: 
<a href="https://www.cryptointelligence.co.uk/bitcoin-mining-companies-employ-derisking-strategies-offload-btc-to-exchanges/" rel="noopener noreferrer nofollow">Bitcoin Mining Companies Employ Derisking Strategies, Offload BTC to Exchanges</a> 
<a href="https://www.cryptointelligence.co.uk/robert-f-kennedy-jr-pledges-to-back-us-dollar-with-bitcoin-if-elected-president/" rel="noopener noreferrer nofollow">Robert F. Kennedy Jr. Pledges to Back US Dollar with Bitcoin if Elected President</a> 
<a href="https://www.cryptointelligence.co.uk/why-you-should-be-bullish-despite-bitcoin-price-falling-below-30000/" rel="noopener noreferrer nofollow">Why You Should Be Bullish Despite Bitcoin Price Falling Below $30,000</a>

Cerebras Systems Secures $100 Million Deal to Deploy Cutting-Edge AI Supercomputers in the UAE

Crypto Intelligence

Other articles published on Jul 22, 2023

XRP Price Prediction: Analysis Suggests 40% Crash by September

Dogecoin Price Prediction: Support and Resistance Levels

YUSE: An Immersive Ecosystem Revolutionizing the Crypto World

Microsoft Corp. (MSFT Stock) – Preview of Earnings on July 25

5 (more) Easy Hacks to Outsmart Social Engineering and Stay Safe Online! 🛡️👉

Activision Blizzard, Inc Stock Price Prediction: Will ATVI Hit $100?

Join our free newsletter for daily crypto updates!