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CoinFund bets $158M on decentralized AI to break Big Tech grip
CoinFund founder Jake Brukhman argues idle GPUs can power decentralized AI training, backing the thesis with $158M in investments across Prime Intellect and Gensyn.
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Jake Brukhman sees a concentration problem in artificial intelligence. A handful of companies own the biggest models, the largest GPU clusters, and the data pipelines that feed them. His answer is decentralized networks built on distributed GPU resources.
Brukhman's firm, CoinFund, has raised $158 million to back crypto and AI startups. Its portfolio includes Prime Intellect, Pluralis Research, and Gensyn – each building pieces of a decentralized compute stack.
At the Theta Capital Legends4Legends conference, Brukhman argued that consumer and data-center GPUs sitting idle around the world can be aggregated into networks powerful enough to train advanced AI models collaboratively. Technological advances have moved decentralized training from a speculative concept to an emerging reality, he said. A race in decentralized AI training is coming, and it will happen sooner than most expect, he predicted.
Prime Intellect, focused on an open-source decentralized AI stack, raised $5.5 million in seed funding co-led by CoinFund in April 2024. The company later added $15 million.