Decentralized AI developer GaiaNet has secured $10 million in funding to build a blockchain optimized for large language models and generative software. The funds will support a decentralized network of edge nodes managed by private individuals and businesses, challenging centralized AI giants like Google.
CEO Matt Wright stated that GaiaNet aims to “redefine the way humans and AI engage to enable sovereign infrastructure” for AI. The company is also partnering with the University of California to create AI-powered teaching assistants for STEM students, addressing the shortage of higher education experts.
Notable investors include Generative Ventures, Republic Capital, 7RIDGE, EVM Capital, Mirana Ventures, Mantle EcoFund, and ByteTrade Lab. ByteTrade Labs CEO Lucas Lu highlighted that GaiaNet’s decentralized AI network “opens up endless possibilities for both users and developers to collaborate with AI agents.”
GaiaNet started its first-phase product testing in Q2 2024 and plans to release its testnet and software development kit in Q3 2024. This initiative marks a significant shift towards democratizing AI tools, potentially transforming the AI landscape by empowering individuals and businesses.
