io.net Launches World’s First Decentralized GPU Computing Service For AI Startups

• io.net aims to source over a million GPUs for its supermassive infrastructure network.
• The network will supply the shortage of GPUs needed for AI processing globally.
• Idle GPU owners will be incentivized to provide computation power for AI.
• io.net currently boasts 36,000 GPUs, aiming at a million GPUs.

Decentralized cloud service platform io.net announced its plans to build the world’s largest Decentralized Physical Infrastructure Network (DePIN) by sourcing over a million independent GPU computing power providers. The initiative is aimed at enhancing AI processing globally by solving the supply shortage of graphic processing units (GPUs). In addition, sourcing millions of idle GPUs from users will form a global decentralized cloud ecosystem to advance machine learning and AI. 

AI companies globally are frantically searching for GPUs to power artificial-intelligence products and start-ups as they provide the fastest and most efficient way to run the calculations that allow them to analyze enormous amounts of data. However, demand for these chips is increasing 10x every 18 months, making it impossible for chip companies such as Nvidia to satisfy the demand. Additionally, GPU prices are at an all-time high (and seem to be increasing year-on-year), leading to rising costs of training AI models and lengthy lead times for startups using cloud services. 

According to Ahmad Shadid, Founder & CEO of io.net, these issues are slowing the growth and effectiveness of AI hence the launch of DePIN by his company. 

“AI is one step away from starting the Fourth Industrial Revolution but current GPU providers can’t support the scale and speed of innovation,” Shadid remarked. “ io.net will be able to connect one million GPUs distributed across the globe in under 90 seconds, giving AI startups access to essential processing power on demand.”

The launch of io.net’s cloud computing service aims to challenge the traditional giants in the market including Amazon Web Services, Google Cloud Platform and Azure. The launch of io.net DePIN will unlock the one-click deployment of massive GPU clusters, supporting intense machine learning workloads and be operational in just 90 seconds. This will also reduce the cost of GPU computations by at least 90% from traditional solutions, the team statement reads. 

Io.net targets crypto miners and idle computers 

To successfully build the world’s largest decentralized computing system, io.net targets to unlock GPU capacity that lies idle on millions of computers worldwide. The major targets include independent data centres,  whose typical utilization rate is only 12-18%, and crypto mining farms. The latter has seen a steep decline in profitability since Ethereum’s switch from a proof-of-work (PoW) chain to a proof-of-satke (PoS) consensus mechanism. 

io.net will launch a global network of user-supplied GPUs using a rewards system that incentivizes participation. The underutilized GPU computation power around the world from data centres and crypto mining rigs will create a decentralized cloud service with providers getting handsome rewards for their computing power. The computing power will then be sold to AI startups and projects to support the growth of the AI industry.

Notwithstanding, the cloud service also focuses on increasing the overall profitability for crypto miners with idle GPU space while reducing overall energy consumption. The team expects these miners to boost their earnings by over 1500%.