Asia-Pacific (APAC): Storj acquires AI compute provider Valdi

Jul 09, 2024 | Posted by Abdul-Rahman Oladimeji

Cloud storage company Storj has acquired Valdi, an artificial intelligence (AI) compute provider, adding AI capabilities to its cloud storage offering with Valdi's GPUs through the process.

Storj's chief revenue officer Colby Winegar said: “Today’s enterprises demand new high-performance solutions to innovate affordably and sustainably. Valdi's network of on-demand GPUs is a natural extension of Storj’s distributed cloud and is well-suited to support the needs of today’s most transformative innovators. This strategic acquisition is particularly exciting as our joint storage and GPU offering is optimized for AI workloads.”

Storj and Valdi first partnered in 2023 and integrated their profits shortly after. According to the companies, both Valdi's GPU offering and Storj's S3 cloud object storage are 'infinitely' scalable.

Valdi CEO Nikhil Jain said: "Valdi’s distributed model enables it to surpass traditional approaches to GPU provisioning, especially in the current state of unprecedented demand. Our customers often also have a substantial storage need and uniting our organizations will deliver major benefits to customers while empowering our team to grow faster.”

Ben Golub, Storj CEO, added: “Storj was created to build a new cloud for a new era of computing. About 20 years ago, AWS began with object storage (S3), and followed with CPU-based computing (EC2), and then a host of other services. Today, Storj is building on our strong foundation of distributed cloud object storage as well.