Galaxy CEO Mike Novogratz opinion That artificial intelligence is the “new arms race.”
This follows the recent announcement of Project Stargate, the new company that appears poised to become the largest AI infrastructure project to date. OpenAI teamed up with Softbank, Oracle and UAE-based technology-focused investment firm MGX to finance the project, which has already secured $100 billion. The joint venture has pledged a staggering $500 billion to develop AI infrastructure in the United States.
The project, which is currently dominating headlines in the mainstream media, has already been compared to the Manhattan Project due to its massive size.
According to Novogratz, this is “just the beginning.” The billionaire believes that more than $1 trillion will be spent on US data centers over the next few years.
Focusing on artificial intelligence
Novogratz believes that massive demand for infrastructure is now driving the shift among Bitcoin miners.
Recently a reportGalaxy stated that large-scale Bitcoin mining companies can enhance the value of their assets by moving into the artificial intelligence market.
Miners who focus on AI can see benefits such as highly predictable cash flows, cash flow diversification, as well as access to deep capital markets.
However, since the current infrastructure is not well suited for mining, there are several key improvements that miners need to implement.
These include networking infrastructure that handles fast execution of workloads as well as advanced cooling solutions.
