Just like the rest of the world, AI projects in the realm of cryptocurrencies continue to compete with each other. Following the frequently mentioned Bittensor’s (TAO) developments last month, today Fetch.AI (FET) has announced a significant development. According to the announcement, the company introducing Fetch Compute has received a massive $100 million investment.
Massive $100 Million Investment and Project Announcement
Fetch.AI has announced an extensive infrastructure investment through its official site to expand the tools and training capabilities offered to its users and developers.
The Fetch Compute project, unveiled alongside the $100 million investment, is positioned as an initiative that will enable participants to develop remarkable applications and take significant steps to strengthen the foundation of the artificial intelligence economy.
Fetch Compute will utilize Nvidia H200, H100, and A100 GPUs to create a platform that allows developers and users to benefit from computing power.
With this move, Fetch.ai aims to facilitate access to complex models and solutions and accelerate the pace of innovation within its ecosystem.
Another announcement revealed that starting from March 7, 2024, users who stake Fetch.ai’s native token FET will be rewarded with Fetch Compute credits to pay for GPU usage on the Fetch Compute network later on.
What is the Current Price of FET?
While these developments are taking place, attention has turned to the price charts. The price of FET surged within minutes, reflecting the bullish market’s tendency to capitalize on good news to investors once again.
As of the time of writing, FET has formed an impressive candlestick but seems to have given back some of its gains. Nevertheless, it is trading at $1.8188, up by 4.82%. Despite this, there was a less than 1% decrease in FET’s market capitalization, but it still remains above $1.5 billion.
The 24-hour trading volume of FET has increased by 18% to the level of $400 million, which could be interpreted as investors showing interest in the cryptocurrency.
