Storj Acquires Cloud Computing Firm Valdi; Terms Undisclosed

Storj, a crypto-backed cloud-storage platform, said it bought Valdi, a provider of high-performance cloud computing, to add graphics-processing-unit (GPU) computing for its enterprise clients.
The Valdi network comprises over 16,000 GPUs globally and provides on-demand processing that is used for artificial intelligence (AI) training in industries such as technology, research and life sciences, Storj said in a press release. Terms of the deal were not disclosed.
Surging demand for power and infrastructure from AI and high-performance computing firms (HPC) has seen some bitcoin (BTC) miners pivot away from mining. Core Scientific (CORZ) recently signed a 12-year, 200 megawatt (MW) AI deal with cloud computing firm CoreWeave.
“Today’s enterprises demand new high-performance cloud solutions to innovate affordably and sustainably,” Storj chief revenue officer Colby Winegar said in the release.
Valdi aims to address the shortage of GPUs driven by the growth of the artificial intelligence market by allowing customers to use available GPU compute cycles in data centers across the world, Storj said.
“Valdi’s global network of data centers with high performance cloud compute is a natural extension of Storj’s distributed cloud and particularly exciting as our joint storage and GPU offering is optimized for Generative AI workloads,” Winegar said.
Edited by Sheldon Reback.

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Will Canny is CoinDesk’s finance reporter.