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Prime Intellect, a decentralized AI start-up, has raised $5.5 million in seed funding. CoinFund and Distributed Global jointly led the funding, which was further supported by Compound, Collab+Currency, Protocol Labs, and other notable individuals in the tech and crypto spheres.
Prime Intellect is dedicated to constructing scalable infrastructure for decentralized AI development. Their platform, currently in beta, brings together both centralized and decentralized GPU providers from around the world, allowing users to access on-demand computing at significantly reduced costs.
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 We’re proud to announce that CoinFund has co-led a $5.5M Seed Round in <a href="https://twitter.com/PrimeIntellect?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">@primeintellect</a>. Generative AI could hit $1.3 trillion by 2032, but progress is already bottlenecked by centralized models of control. <a href="https://twitter.com/PrimeIntellect?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">@PrimeIntellect</a> is a decentralized AI platform leveraging distributed…— CoinFund (@coinfund_io) <a href="https://twitter.com/coinfund_io/status/1782801193665970619?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">April 23, 2024</a>
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A key aspect of Prime Intellect’s vision is the creation of a decentralized protocol that allows users to own portions of the AI models they help collaboratively train. This innovative approach aims to democratize access to AI technologies and incentivize broader participation in their development.
Leadership and Expertise at Prime Intellect
Vincent Weisser and Johannes Hagemann, the co-founders of <a href="https://www.primeintellect.ai/blog/introducing-prime-intellect" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Prime Intellect</a>, bring a wealth of experience to the table. Weisser’s background includes serving as Chief of Ecosystem and AI at Molecule. At the same time, Hagemann has spent the past two years building large language models at Aleph Alpha, a German AI startup.
With the rise of generative AI projected to reach $1.3 trillion by 2032, Prime Intellect aims to challenge centralized control models. By leveraging distributed model training, they seek to democratize compute power, foster collaboration, and incentivize ownership for all stakeholders.
CoinFund’s involvement, along with Distributed Global and other key players, highlights the increasing interest and investment in ventures like Prime Intellect that are pushing the boundaries of innovation in AI and decentralization.&nbsp;
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 Also Read: <a href="https://www.cryptotimes.io/2024/04/20/mistral-ai-startup-in-talks-for-e500m-funding-boost/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Mistral AI Startup in Talks for €500M Funding Boost</a>
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CoinFund and Distributed Global Lead $5.5M Seed Round for Prime Intellect

The Crypto Times

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