According to PANews, DePIN Investment and hardware manufacturing group JDI Group have partnered with Tensor to jointly invest $20 million in the establishment of the Phoenix AI Ecosystem Fund. This strategic development fund aims to accelerate the growth of the Phoenix AI application ecosystem and invest in artificial intelligence computing infrastructure hardware.
Half of the AI fund will be used for investing, incubating, and nurturing new applications and artificial intelligence ecosystem partners to build Phoenix's AI platform. The investment areas will include AI-supported DeFi, trading, Web 3 games, metaverse, and content creation verticals. In addition to accelerating new applications running on Phoenix, the other part of the AI Ecosystem Fund will be used to invest in the development of hardware infrastructure and physical infrastructure required for the rapid expansion and growth of Phoenix's AI computing network.