Facilitating Learning
- $14.917M Market Capitalization
AMPD Ventures (AMPD.C) announced today that it has signed a deal with Variational AI Inc. According to the deal’s terms, AMPD will increase Variational’s machine learning infrastructure at the Company’s DC1 sustainable data center. Ultimately, this deal is expected to almost double Variational’s machine learning capacity through the AMPD AI Platform.
“Canada has been emerging as a global hub for artificial intelligence technologies, with over 150 AI/machine learning start-ups based in Vancouver alone, working across a range of application areas. We look forward to addressing the needs of this sector with our GPU-based compute solutions,” said Anthony Brown, CEO of AMPD Ventures Inc.
Variational is credited for the development of Enki, an artificial intelligence (AI) small molecule discovery service intended to help discover new molecules for pharmaceutical research. With this in mind, this isn’t the first time AMPD has worked with Variational. Previously, on February 7, 2020, the Company announced the signing of a deal to expand Variational’s machine learning infrastructure.
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Through this deal, AMPD was to expand Variational’s machine learning compute capacity, thereby improving Enki’s drug discovery capabilities. So, how exactly does AMPD fit into this equation? Variational utilizes Graphics Processing Units (GPUs) to perform complex calculations. In doing so, this enables the company to discover novel molecules that may be used in drug development.
With this in mind, in 2020, AMPD worked with NVIDIA, a world-leading GPU manufacturer, to design the AMPD AI Platform in conjunction with Variational AI. Ultimately, this collaboration bore fruit, with the AMPD AI Platform demonstrating the ability to perform high-intensity AI workloads while boasting optimal performance and value.
Having successfully developed the AMPD AI Platform, on May 5, 2021, AMPD signed a 24-month contract to triple Variational’s machine learning compute capacity. Fast forward to the present and AMPD has signed yet another deal to further expand Variational’s capabilities. According to the terms, the new deal encompasses a monthly recurring revenue (MRR) contract for a term of 2 years.
“In 2020, AMPD was able to understand what we were trying to achieve and simply had the best solution on the market for our needs. And now, being a customer of AMPD for well over a year has only increased our confidence in their ability to deliver state-of-the-art solutions for machine learning,” said Variational AI Co-Founder & Compute Lead, Mehran Khodabandeh.
The contract will commence following the delivery of the service. It should also be noted that this MRR contract exists on top of AMPD’s existing MRR contract with Variational. Moving on, AMPD’s DC1 data center is also quite significant. On April 9, 2020, the Company announced the deployment of its DC1 data center in Vancouver, British Columbia (BC).
AMPD’s high-performance computing environment was designed to meet the requirements of companies in the AI, machine learning, and deep learning sectors. That being said, Variational was one of the first companies to use the Company’s DC1 data center based on the latest GPU technology. If you would like to know more about AMPD, click here to see related articles and videos on Equity Guru.
AMPD’s share price opened at $0.17 today, down from a previous close of $0.175. The Company’s shares were down -5.71% and were trading at $0.165 as of 12:11 PM EST.