Rewards Hub AI startup Lightning AI and computing power provider Voltage Park have merged to form a new entity valued at over $2.5 billion. The combined company, retaining the name Lightning AI, boasts annual recurring revenue exceeding $500 million. Lightning AI is known for developing the open-source tool PyTorch Lightning, while Voltage Park, backed by a $900 million investment from Navigation Fund, manages over 35,000 Nvidia GPUs. Post-merger, Navigation Fund, founded by Ripple and Mt. Gox co-founder Jed McCaleb, will hold a significant equity stake in the company.
Lightning AI and Voltage Park Merge to Form $2.5B AI Cloud Giant
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