Storj Acquires Cloud Computing Firm Valdi; Terms Undisclosed

Storj bought Valdi, a provider of high-performance cloud computing, for an undisclosed amount.

The deal means that Storj can also offer GPUs to its enterprise clients.


Former Circle Analyst on Stablecoin and CBDCs


Bitcoin ETF Investors Bought the Dip; France Votes for Hung Parliament


Crypto Fear & Greed Index Drops to Low Point Following Plunge in Bitcoin


U.S. Adds 206K Jobs in June; Mt. Gox Begins Repayments in Bitcoin and Bitcoin Cash

Storj, a crypto-backed cloud-storage platform, said it bought Valdi, a provider of high-performance cloud computing, to add graphics-processing-unit (GPU) computing for its enterprise clients.

The Valdi network comprises over 16,000 GPUs globally and provides on-demand processing that is used for artificial intelligence (AI) training in industries such as technology, research and life sciences, Storj said in a press release. Terms of the deal were not disclosed.

Surging demand for power and infrastructure from AI and high-performance computing firms (HPC) has seen some bitcoin (BTC) miners pivot away from mining. Core Scientific (CORZ) recently signed a 12-year, 200 megawatt (MW) AI deal with cloud computing firm CoreWeave.

“Today’s enterprises demand new high-performance cloud solutions to innovate affordably and sustainably,” Storj chief revenue officer Colby Winegar said in the release.

Valdi aims to address the shortage of GPUs driven by the growth of the artificial intelligence market by allowing customers to use available GPU compute cycles in data centers across the world, Storj said.

“Valdi’s global network of data centers with high performance cloud compute is a natural extension of Storj’s distributed cloud and particularly exciting as our joint storage and GPU offering is optimized for Generative AI workloads,” Winegar said.

Edited by Sheldon Reback.


Leave a Reply

Your email address will not be published. Required fields are marked *


Get latest news delivered daily!

We will send you breaking news right to your inbox

4Coinz ©. All rights reserved.