Solidus Ai Tech has been approved for a €3.5m grant via its joint venture partner Soft Galaxy International to go towards the completion of their Artificial Intelligence infrastructure.

This is where Government Authorities, megacorps, SMEs, and professionals will be able to purchase AI services via their Infrastructure-as-a-Service (IaaS) platform.

Across every industry, the adoption of AI has exceeded predictions for growth. AI is creating new products, boosting revenues, reducing costs, and dramatically improving efficiencies. The inexorable evolution of technologies has reached the point where there is an urgent need to solve problems with high computational requirements, the solution of which cannot be provided by a single computing unit.

Currently, the entirety of the supercomputers within Europe is heavily reliant on non-European technology. This means that Europe risks losing strategic or technological know-how for innovation and competitiveness as more technologies are imported.

Solidus Ai Tech founder and Head of UK Operations Paul Farhi said: “Europe suffers from an absence of top 10 HPC facilities. We consume one-third of HPC resources but produce a fraction of the computing power. European scientists and engineers have little option but to depend on costly US supercomputing facilities. There is a desperate need for high-performance computing power in Europe, so to meet these challenges, we’re close to completing the build of a state-of-the-art HPC Data Centre in the EU which is based in Bucharest. We’re very pleased to have secured several partnerships with Government Organisations within the defense sector and corporate entities including Microsoft Global.”

Solidus’ AI GPU infrastructure will enable more European companies to obtain their supercomputing power from the EU. The facility is on track to be more efficient and of lower cost than in most of the U.S. Bucharest offers the benefit of low-cost electricity and fast internet speeds, and the company expects to run at around 40% less power consumption than the industry average.

When the Data Centre AI infrastructure is complete, Solidus Ai Tech will begin generating revenue from their partnerships with Government Organisations as well as Megacorps, SMEs and Professionals. The company’s long-term plan is to scale up by building additional data centers in close proximity. In preparation, land has been identified by joint-venture partner Soft Galaxy International. All of the company’s Data Centres will follow its unique protocol which runs at around 40% more energy efficient vs the industry standard.

AI is a core component of any digital transformation initiative today. This is witnessed in the rapid growth of the industry from 1.3 billion in 2020 to the forecasted 7.5 billion revenue in 2021 and 4.3 billion in 2024. The core component of this growth is powered by the underlying, highly sophisticated AI hardware and infrastructure.

None of the AI innovations would be possible without the simultaneous growth and innovation in hardware. From the humble CPU from just a few years ago, the industry has progressed to GPU and FGPA, and yet a very hungry AI industry needs and demands so much power from its hardware.

About

Founded in December 2017, Solidus Technologies started as a cryptocurrency mining firm with a particular focus on mining Ethereum (ETH) via GPU-based mining rigs. In the wake of the 2020 financial crash and the significant boost in demand for AI services, the company shifted its core focus to Artificial Intelligence and incorporated Solidus Ai Tech to become the AI arm of the business. Solidus’ Artificial Intelligence infrastructure will enable government authorities, megacorps, SMEs, and professionals to purchase AI services using the world’s first AI utility token AITECH. AITECH can be bought, staked, or held.

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The post Solidus Ai Tech Secures €3.5M EU Grant to Complete HPC Data Centre appeared first on BeInCrypto.

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