Mentioned:
Cerebras Systems is one of the most well funded private artificial intelligence companies in the world. And now, they’re getting access to a new data centre in Quebec for more high performance computing capacity.
What’s happening:
- Bit Digital (NASDAQ: BTBT) has secured the rights to a new data centre in Saint-Jerome, Quebec
By the numbers:
- The new data centre will support Bit Digital’s 5 megawatt co-location agreement with Cerebras Systems
- The facility is more than 200,000 square feet and will require $55M CAD in development costs
Why it matters:
- Cerebras Systems is one of the leaders in generative artificial intelligence infrastructure and has raised hundreds of millions of dollars in venture capital funding from Altimeter Capital, Benchmark Capital and even OpenAI co-founder Sam Altman
Going deeper:
- Cerebras Systems also has a right of first refusal for any additional megawatt capacity that becomes available at the new data centre, as part of their existing agreement with Bit Digital
- Bit Digital has continued to quickly scale up their high performance computing business, including previously cutting a notable deal for more than $20M USD with DNA AI Compute Fund to provide access to GPUs at a data centre in Iceland
The intrigue:
- Cerebras Systems has also been preparing to IPO onto a major stock exchange in the United States of America in an effort to raise significantly more capital to fuel the production of their leading edge chips for inference
