Venture Capital Fuels AI Boom: Global AI Market Set for 41.8% CAGR Growth Through 2031

USA News Group News CommentaryIssued on behalf of Avant Technologies Inc.
VANCOUVER, BC, June 5, 2024 /PRNewswire/ — USA News Group News Commentary – Venture capital is investing heavily into artificial intelligence (AI), with the World Economic Forum (WEF) recently posting a report on how AI investments in the top five global economies are reshaping the AI ecosystem. In the report, the WEF highlights everything from autonomous vehicle programs, to major US healthcare companies investing in AI-powered medical diagnostics and remote patient monitoring tech, as well as overall cloud computing strategies. According to analysts at Report Ocean, the Global AI Market is set to explode, growing at a whopping 41.8% CAGR through 2031. On a global scale, big tech is investing billions in AI data centers around the world, with several developments recently announced by tech companies including: Avant Technologies Inc. (OTC: AVAI), Microsoft Corporation (NASDAQ: MSFT), NVIDIA Corporation (NASDAQ: NVDA), Amazon.com, Inc. (NASDAQ: AMZN), and Alibaba Group Holding Limited (NYSE: BABA).

The article continued: According to Technavio, the Global Data Center Market is expected to hit US$329.82 billion by 2027, growing at a CAGR of 12.73%. That figure is conservative in comparison to projections from analysts at Exactitude Consultancy who predict the Global Data Centre Market as a whole, will reach US$536.38 billion by 2030, growing at a CAGR of 10.72%.
Avant Technologies Enters Binding LOI to Purchase Dozens of High-Performance, Immersible, AI-Powered Servers
Avant Technologies, Inc. (OTCQB: AVAI) (“Avant” or the “Company”), a leading innovator and enabler of AI infrastructure technology, today announced  it has entered into a Binding Letter of Intent (BLOI) with Florida-based Flow Wave, LLC (FW), a pioneer in immersible computer server development. This agreement paves the way for Avant to acquire up to 50 state-of-the-art high-performance immersible computer servers from FW in a deal valued at $50 million.
This transaction, subject to a mutually satisfactory definitive agreement, signifies a major leap forward for Avant as it expects to lead the way in providing distributed submerged infrastructure solutions. With a commitment to innovation and sustainability, this acquisition of up to 50 high-performance immersible computer servers allows Avant to address the complex challenges of the digital era with cutting-edge solutions.
Flow Wave’s Immersion-as-a-Service computer servers utilize state-of-the-art immersion cooling technologies, which significantly enhances compute performance and energy efficiency.  Flow Wave’s innovative approach addresses the growing demands for higher processing power and sustainability in the data center industry. The partnership with Flow Wave aligns perfectly with Avant’s commitment to enabling top-tier AI infrastructure solutions and optimizing operational efficiencies.
Key Features of Flow Wave Immersible AI Supercomputer Servers:
Unparalleled Compute Performance: Designed to handle intensive AI and machine learning workloads. These servers offer superior processing power, which allow for faster and more efficient data analysis.Power Consumption Efficiencies: Immersion cooling technology reduces the energy consumption required for cooling, leading to substantial cost savings and a smaller carbon footprint.Compact Physical Design: Immersible servers are compact and sleek, making them ideal for AI data centers with limited floor space or those seeking to optimize their existing infrastructure. The compact design also reduces the overall weight and size of the server, making it easier to transport and install.Enhanced Reliability: The immersible design improves hardware longevity and reliability, reducing downtime and maintenance costs.”Avant’s revolutionary AI software platform is poised to transform the landscape of data center management,” said William Hisey, CEO of Avant.  “By integrating proprietary machine learning algorithms with open-source innovations into those servers, Avant is developing a highly intelligent system designed to optimize resource allocation, enhance performance, and drive unprecedented levels of efficiency and automation. This marks the beginning of a new era for Avant Technologies, positioning us at the forefront of the supercomputer-driven data center industry and setting new standards for managing and storing AI applications.”
Avant expects to announce additional details regarding the proposed transaction when a definitive agreement is executed.
CONTINUED… Read this and more news for Avant Technologies at:  https://equity-insider.com/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
In other industry developments and happenings in the market this week include:
Microsoft Corporation (NASDAQ: MSFT), global leader in developing and supporting software, services, devices and solutions, recently announced it has entered a milestone agreement with Hitachi to accelerate business and social innovation with generative AI over the next three years. As per the strategic alliance, Hitachi intends to propel growth of the Lumada business, with a planned revenue of ~US$18.9 billion in FY2024, and aims to promote operational efficiency and productivity improvements for Hitachi Group’s 270,000 employees.
“We are entering a new era of AI with the promise to deliver transformative business outcomes across every role and industry,” said Satya Nadella, Chairman and CEO, Microsoft. “Our expanded partnership with Hitachi will bring together the power of the Microsoft Cloud — including Microsoft Copilot — with Hitachi’s industry expertise to improve the productivity of 270,000 Hitachi employees and help address customers’ biggest challenges, including sustainability.”
NVIDIA Corporation (NASDAQ: NVDA), the world leader in accelerated computing, recently announced the general software availability of NVIDIA AI Enterprise-IGX with NVIDIA Holoscan on the NVIDIA IGX platformer. The new software availability empowers solution providers within the medical, industrial and scientific computing sectors to develop and deploy edge AI solutions faster, with enterprise-grade software and support.
“As software-defined functionality continues to transform businesses across industries, enterprises are seeking powerful edge AI solutions that can meet their unique performance and regulatory requirements,” said Deepu Talla, Vice President of Robotics and Edge Computing at NVIDIA. “The NVIDIA IGX platform’s new capabilities deliver powerful enterprise-grade software from the cloud to the industrial edge, giving customers increased performance, safety and scalability.”
Amazon Web Services (AWS), an Amazon.com, Inc. (NASDAQ: AMZN) company, recently announced an expanded, strategic collaboration with SAP SE to transform modern cloud enterprise resource planning (ERP) experiences and to help enterprises drive new capabilities and efficiencies with generative artificial intelligence (AI). As per the collaboration, the duo will make it easier for customers to adopt the RISE with SAP solution on AWS, to improve the performance and efficiency of SAP workloads running in the cloud, and to embed generative AI into an enterprise’s entire portfolio of business-critical applications.
“AWS was the first cloud provider certified to support the SAP portfolio and today, thousands of enterprise companies run SAP solutions on AWS to get the most out of their mission-critical applications,” said Matt Garman, incoming CEO at AWS. “Now, AWS and SAP are making it faster and easier for companies to apply generative AI to their core business data to become more efficient, responsive, and sustainable.”
Aliyun, the cloud services arm of Chinese web giant Alibaba Group Holding Limited (NYSE: BABA), recently announced plans to launch a cloud data center in Singapore this September. The announcement comes after Alibaba also recently announced a $1 billion investment program for its cloud services business, including cloud data centers in Silicon Valley, a second one in a to-be-announced US location, and additional facilities in Europe, Middle East, and Asia. In a recently completed quarter, Aliyun claims to have grown revenue from its cloud computing and internet infrastructure business more than 100% year-over-year.
“Singapore is a natural destination to be our headquarters for overseas expansion,” said Sicheng Yu, VP of Aliyun in a statement. “The city state is a natural springboard into the Asia Pacific region, not only for us, but for our target audience.”
Source: https://equity-insider.com/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/ 
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