Jed McCaleb’s nonprofit, the Navigation Fund, is addressing the AI chip shortage by offering leasable capacity for large machine learning models through its newly launched cloud service. This service will be accessible hourly, monthly, or on a long-term basis.
Voltage Park, a subsidiary of the Navigation Fund, provides bare-metal access for large-scale users requiring peak performance. It has around 24,000 NVIDIA H100 graphics processing units (GPUs) grouped into interconnected clusters, valued at $500 million. These clusters will be located in Texas, Virginia, and Washington, with plans to expand services by early 2024.
Voltage Park is currently auctioning contracts for access to 1,560 GPUs with durations ranging from one to three months. The initiative aims to make machine learning infrastructure accessible to a wide range of users, from startups and researchers to large AI labs.
The Navigation Fund was founded in 2023 and plans to offer a small number of grants this year, expanding its programs in early 2024. In addition to promoting safe AI, the fund will support various causes.
Jed McCaleb, a billionaire, initially created Mt. Gox for trading Magic: The Gathering cards before repurposing it as a Bitcoin exchange. He sold it in 2011, three years before its collapse. McCaleb went on to co-found Ripple Labs and later Stellar blockchain. In 2022, he also founded a space station startup that has partnered with SpaceX, owned by Elon Musk.