VANCOUVER, BC / ACCESSWIRE / June 6, 2022 / AMPD Ventures Inc. (CSE:AMPD) (OTCQB:AMPDF) (FRA:2Q0) ("AMPD" or the "Company"), a next-generation digital infrastructure provider, is pleased to announce that it has signed a deal with Variational AI Inc. ("Variational AI" or "Variational") to increase Variational's machine learning infrastructure hosted at AMPD's DC1 sustainable data centre. Variational AI is the developer of Enki, an artificial intelligence-powered small molecule discovery service designed to help discover new molecules for pharma research. This deal almost doubles the machine learning capacity supplied to Variational by the AMPD AI Platform.
In 2020, AMPD worked with world-leading GPU Manufacturer NVIDIA to design the AMPD AI Platform in conjunction with Variational AI. By running several tests on different NVIDIA GPUs and in different configurations, AMPD was able to design the ideal platform from both a cost and performance perspective to meet the needs of high-intensity AI workloads, such as those of Variational.
"AMPD's approach to solving these complex computing problems has been the main driver for Variational in deciding to not only adopt the platform but to now almost double our capacity," said Variational AI Co-Founder & Compute Lead, Mehran Khodabandeh. "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. We are very happy to be increasing our footprint on the AMPD AI Platform."
The new deal signed with Variational is a monthly recurring revenue (MRR) contract for a term of 2 years, commencing at the new service date based on delivery of the service. This is on top of the existing MRR contract still in place with Variational AI.
"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," said Anthony Brown, CEO of AMPD Ventures Inc. "We look forward to addressing the needs of this sector with our GPU-based compute solutions."
About Variational AI
Variational AI has developed an AI-based discovery engine that rapidly generates novel and optimized small molecules for unmet medical needs across disease areas to redefine the economics of drug development. To learn more, visit https://variational.ai.
About AMPD Ventures Inc.
AMPD is a next-generation infrastructure company specializing in providing high-performance computing solutions for low-latency applications. With state-of-the-art, high-performance computing solutions hosted in sustainable urban data centres, AMPD is leading the transition to the next generation of computing infrastructure as ‘the hosting company of the Metaverse.' Through a mix of infrastructure as a service and an upgraded, high-performance cloud offering, we are meeting the low-latency requirements of multiplayer video games and eSports, computer graphics rendering, artificial intelligence, machine learning, mixed reality, big data processing, and the as-yet uncharted technological developments of the coming decades. Additional information about the company is available on SEDAR and our website at http://www.ampd.tech.
For further information please contact Investor Cubed Inc.:
Neil Simon, CEO
Telephone: (647) 258-3310
Email: nsimon@investor3.ca
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ "Anthony Brown"
Anthony Brown
CEO & Director
AMPD Ventures Inc.
Telephone: 604-332-3329
Email: ir@ampd.tech
Cautionary Statement
Forward Looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of the Canadian securities laws. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Statements containing forward-looking information herein include, but are not limited, to statements about AMPD's intentions regarding leadership as the hosting company to the Metaverse.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of AMPD to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, geopolitical, technological and social uncertainties; uncertainties in regard to the development and direction of cloud computing solutions and infrastructure as a service and the development of the Metaverse; the possibility of competing superior technology; as well as those factors discussed in the section entitled "Risk Factors" in the Company's Form 2A Listing Statement dated October 17, 2019, and "Risk and Uncertainties" in the Company's most recent Management Discussion and Analysis filed on SEDAR. Because of these risks and uncertainties, forward-looking information should not be unduly relied upon. The Company does not undertake to update this forward-looking information, except as required by law.
SOURCE: AMPD Ventures Inc.
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