Tatau launches first AI-ready decentralized supercomputing platform
AUCKLAND, NEW ZEALAND — August 21, 2018 — Tatau, a technology company delivering cost-effective and efficient computing outcomes to the artificial intelligence industry, today announced the launch of its blockchain-based supercomputing platform.
Tatau is the first commercially-viable decentralized supercomputer pre-configured to perform deep learning and other advanced AI operations. Tatau’s compute pricing is substantially more cost-effective than traditional suppliers. Further, Tatau utilizes a Function-as-a-Service model to deliver computing outcomes as opposed to computer instances.
“Market demand for AI compute doubles every 3.5 months, but supply isn’t keeping up. Suppliers are using price as a lever to control usage, and these dynamics are holding back innovation.” said Andrew Fraser, Co-Founder and Chief Executive Officer.
“AI compute is Tatau’s first foray into the fast-growing USD55+ billion cloud computing market,” added Fraser.
Tatau gets its computing supply from existing GPU hardware, typically found in crypto mining and gaming infrastructure, but that is often underutilized or unprofitable from a commercial perspective.
“Significant capital has been deployed over the last few years to build GPU-based data centres for crypto mining. However, the returns have not lived up to the hype,” said Martyn Levy, Co-Founder and Chief Commercial Officer. “Tatau is breathing new economic life into these assets by offering miners a higher yield and a revenue diversification opportunity,” added Levy.
Tatau commenced a private token pre-sale in early August 2018, following a successful and over-subscribed USD1.5 million seed round in April 2018, which was led by Techemy Capital.
“One of the ‘Killer Apps’ in blockchain, is a truly scalable distributed computing solution. We’re proud to support the Tatau team on this front” says Fran Strajnar, Founder of Techemy Capital.
Under the hood, Tatau uses a blockchain to handle transactions in a secure and transparent way. The Tatau ERC-20 token is the exclusive economic unit on the platform and is used to buy and sell compute, and can be ‘staked’ to reserve future jobs. A proprietary system verifies suppliers’ work, guarding against fraud, and ensuring full privacy.
Tatau’s first product release is now in testing with a select group of customers and partners, leading to a planned commercial release in early 2019.
Tatau is an enterprise-focused, blockchain-based, distributed computing platform that allows anyone to buy and sell computational capacity on decentralized, GPU-based machines. They are helping meet the growing demand for computational power required for complex computations in verticals such as AI/deep learning, video rendering, and predictive analytics.
Tatau, which is headquartered in Malta, was founded by a group of experienced tech entrepreneurs and executives from New Zealand, Israel, and USA. Tatau has offices in Palo Alto and Auckland with extended teams in Israel and Ukraine.