Fetch.ai, a crypto artificial intelligence project built on Cosmos, has announced the allocation of $100 million to a program called Fetch Compute. This program aims to enhance the tools, computing power, and training capabilities of developers while also providing GPU credits for users. The funding for Fetch Compute will come from the Fetch.ai ecosystem fund.
Fetch Compute will utilize Nvidia H200, H100, and A100 GPUs to create a platform that developers and users can utilize for computing power. The goal is to accelerate innovation within the Fetch.ai ecosystem by providing the capacity to explore complex models and solutions. Starting from March 7, users staking Fetch.ai’s native coin $FET will earn Fetch Compute Credits as rewards, which can be used to pay for GPU utilization on the Fetch Compute network.
The CEO of Fetch.ai, Humayun Sheikh, expressed excitement about the initiative, stating that the combination of substantial compute resources and the unique compute credit system will support the community in bringing their visionary AI projects to life. Currently, Fetch.ai’s infrastructure includes the search-based AI DeltaV platform, which matches users with computing services using large language models and AI agents.
The recent success of AI tokens, including Fetch.ai tokens, can be attributed to the breakout Q4 2024 earnings of chip-maker Nvidia. Nvidia reported revenue and earnings of $22.1 billion and $12.3 billion, respectively, representing significant year-over-year increases. The increased demand for computing and generative AI has contributed to the rally in AI tokens. Fetch.ai tokens, in particular, have seen a return of over 230% and are currently trading at $1.78.
In addition to these developments, Fetch.ai recently partnered with Deutsch Telecom, who will join as a corporate partner and a validator for the Fetch blockchain. This partnership further strengthens Fetch.ai’s position in the market.
Overall, the allocation of $100 million to the Fetch Compute program demonstrates Fetch.ai’s commitment to advancing AI innovation and providing the necessary resources for developers and users to realize their AI projects.