Lightning AI Merges with Ripple Co-founder Backed Voltage Park, Valuation Exceeds $2.5 Billion

Odaily News AI startup Lightning AI has merged with computing power provider Voltage Park, aiming to create a "full-stack AI cloud." The combined company will be named Lightning AI, with a valuation exceeding $2.5 billion and annual recurring revenue over $500 million. Lightning AI is the developer of the open-source tool PyTorch Lightning. Voltage Park was established with $900 million in funding from the Navigation Fund, a nonprofit organization founded by Ripple co-founder and Mt. Gox co-founder Jed McCaleb. It manages over 35,000 Nvidia GPUs. Following the merger, Jed McCaleb's Navigation Fund will hold a significant equity stake in the new company. (Forbes)