Voltage Park, a nonprofit organization funded by cryptocurrency billionaire Jed McCaleb, has purchased $500 million worth of advanced chips from Nvidia. The organization plans to lease computing capacity to companies for artificial intelligence (AI) projects. Voltage Park aims to address the shortage of AI chips by offering long- and short-term, low-cost AI computing. The organization will set up clusters of Nvidia AI chips in Texas, Virginia, and Washington, with plans to fully deploy the 24,000 chips by February. The demand for AI chips has surged following the release of OpenAI’s ChatGPT, with Intel, AMD, and startups also selling competing AI chips. Voltage Park is a subsidiary of McCaleb’s nonprofit Navigation Fund, and any profits will be sent to Navigation. McCaleb is not involved in the day-to-day operations or the board of either the nonprofit or Voltage.
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