Storj Acquires Cloud Computing Firm Valdi

The cryptocurrency-backed cloud storage platform Storj announced that it has acquired high-performance cloud provider Valdi to offer its business customers graphics processing unit (GPU) computing

Customers of Valdi can utilize the GPU compute cycles that are available in data centers all over the world.

According to a press release from Storj, the Valdi network, which has over 16,000 GPUs worldwide, offers on-demand processing for artificial intelligence (AI) training in sectors like technology, research, and life sciences. The agreement’s terms were kept a secret.

Many Bitcoin (BTC) miners have given up on mining due to the increased demand for infrastructure and power from AI and high-performance computing (HPC) companies. Core Scientific (CORZ) and cloud computing company CoreWeave recently inked a 12-year, 200-megawatt (MW) AI agreement.

According to Storj Chief Revenue Officer Colby Winegar, “Today’s enterprises demand new high-performance cloud solutions to innovate affordably and sustainably.”

According to Storj, Valdi plans to alleviate the global GPU shortage caused by the burgeoning artificial intelligence market by enabling users to utilize GPU compute cycles available in data centers worldwide.

A logical extension of Storj’s distributed cloud, Valdi’s worldwide network of data centers with high-speed cloud computing is especially intriguing because of our combined storage and GPU solution, tailored for Generative AI workloads, according to Winegar.