AMPD Signs Deal with Variational AI for Machine Learning Compute at DC1 – StreetInsider.com
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
VANCOUVER, BC / ACCESSWIRE / February 7, 2020 / AMPD Ventures Inc. (“AMPD” or the “Company”)(CSE:AMPD)(FRA:2Q0) is proud to announce that it has signed a deal with Variational AI Inc. (“Variational AI” or “Variational”) to supply 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.
Variational is building on the founders’ expertise in machine learning, reflected in more than forty publications in the area of artificial intelligence research.
Variational uses Graphics Processing Units (“GPU”) to perform the complex calculations that enable them to discover novel molecules that may be used to develop new drugs. GPU’s are a critical component of high-performance computing for artificial intelligence and machine learning. While a Central Processing Unit (“CPU”) is good at handling multiple tasks, GPU’s are typically designed to handle a few specific tasks very fast in parallel. So far, these tasks have also included the mining of crypto currencies and processing the high quality graphics of the latest 3D games. GPU’s can solve the complex math problems for certain things like machine learning better than traditional CPUs.
“For the type of computing we need, GPU’s are the only option,” said Variational AI Co-Founder & CEO, Handol Kim. “AMPD was able to understand what we are trying to achieve and simply had the best solution on the market for our needs. We are starting off with a 16 GPU system hosted at AMPD’s DC1 data centre, and we expect to grow to 128 GPU’s during the rest of 2020. AMPD was able to meet our needs today and for the foreseeable future with their scalable platform and understanding of how GPU’s are used for artificial intelligence applications.”
“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 AMPD Ventures Inc.
AMPD specializes in providing high-performance cloud and computing solutions for low-latency applications, including video games and eSports, digital animation and visual effects, and big data collection, analysis and visualization. For further information concerning the company and its business, please see the long-form prospectus dated October 11th, 2019, supporting its application for listing on the CSE. A copy of the prospectus was filed under the company’s profile at SEDAR.
For more information on AMPD, please contact:
Tel: 604-332-3329 ext. 3
or visit http://www.ampd.tech
About Variational AI
Variational AI offers an early drug discovery service that leverages state-of-the-art generative machine learning to discover novel, efficacious, safe and synthesizable small molecules for customers in biopharmaceuticals. Founded in 2019, Variational AI performs multi-property molecular optimization to dramatically reduce the time to discover high-quality drug-like molecules with a higher probability of success in clinical trials.
For more information on Variational AI, please contact:
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Anthony Brown”
CEO & Director
AMPD Ventures Inc.
email@example.com | Tel: 604-332-3329
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Certain statements made herein may contain forward-looking statements or information within the meaning of the applicable Canadian securities laws. Often, but not always, forward-looking statements and 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. Forward-looking statements or information herein include, but are not limited, to statements or information with respect to any future plans of Variational to host at AMPD’s DC1 Data centre, future plans to service AI companies, use of GPU’s in the future, and any expected results to be generated from servicing Variational and other AI companies.
Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information, including the ability to successfully cater to the requirements of Variational and other AI companies in our data centre(s). Although our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include ability to successfully cater to the requirements of Variational and other AI companies in our data centre(s) and 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.
There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada.
All forward looking statements and information contained in this News Release are qualified by this cautionary statement.
SOURCE: AMPD Ventures Inc.
View source version on accesswire.com: