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Solidus making waves in the AI sector

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Established 2017 Solidus Technologies have been raising funds and working on building a data centre built for the purpose of High Power Computing and processing Blockchain networks along with Artificial Intelligence applications.

The world is changing and evolving into more tech-based living. It is facing an unparalleled growth in needs and desires for computing power across areas such as artificial intelligence, pattern recognition, face recognition, image analysis, transaction validation, deep learning and much more. High Performance Computing (HPC) is already helping in many walks of life, such as social media, healthcare, mobility, communication networks, financial services, industrial processes and scientific progress.

HPC is used to describe the deployment of a sever estate and supporting infrastructure the function of which is to carry out large volume of compute tasks very quickly. In order to get the required level of performance the use of GPU (graphic processor Units) is used, the chips are capable of processing large blocks of data very quickly due to the highly parallel structure. Primarily used to manipulate computer graphics, these processors were developed to render and process millions of polygons per second and accelerating the memory intensive work of texture mapping. The complex and matrix like nature of these calculations have led to engineers and scientists using GPU based systems to perform non-graphical calculations.

GPUs have also become priceless for the artificial intelligence (AI) and machine learning space. We have seen the demand for new algorithms and processes to help in science, technology and machine learning grow exponentially over a short space in time. With new adaptions on computers, smart phones and smart technologies such as alexa and smart TV’s, AI is now shaping the way we live our lives and will be ever increasing as time goes by. Data scientists and AI researchers have used GPUs for machine learning to streamline a series of processes and applications, such as speech recognition, natural language processing, image classification, and video analytics among others. The highly parallel structure of GPUs makes them much more efficient for algorithms than CPUs, which is why the AI industry finds them indispensable. Companies like IBM, Facebook, Adobe, Baidu, and Microsoft started to use GPUs for their machine learning projects and with this through Optoelectronica which is owned by the joint venture manager Adrian Stoica Solidus Technology will be tasked to process the satellite data under a Research Programme financed by The Romanian Space agency better known as ROSA.

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Scott Cannon, Director at Solidus has said “I am delighted with the way things are moving forward for the company, we are currently speaking with some very well known organisations in regards to their Artificial Intelligence needs and with us now Helping ROSA the potential for us to expand in this space is increasing. It’s a great revenue stream for Solidus and I’m looking forward to gaining further partnerships as the demand in this sector is huge right now.”

Since 1991, the coordination of the space activities in Romania and stronger collaboration in European and international space programs is achieved through the establishment of the Romanian Space Agency (ROSA), within the Ministry of Education and Technology, which was reorganised in 1995 as a public institution entirely self-funded, operating under Government Decision and the subsequent decisions of the Ministry of Education and Research – National Authority for Scientific Research and Innovation.

As a government institution, ROSA has concluded international agreements on behalf of the Romanian Government. The first agreement between Romania and the European Space Agency (ESA) on space cooperation for peaceful purposes was signed in Paris on 11 December 1992 and ratified by Law no. 40/1993, event that marked the beginning of the Romanian participation in several research projects together with other European countries. In 1999 was signed the Agreement between Romania and ESA on the Cooperation for peaceful exploration and use of outer space, an event which increased the opportunities for collaboration between the industrial community in Romania and ESA.

The Romanian Commission for Space Activities dealt also with international agreements. Romania was among the first Eastern European countries to sign collaborations with NASA in the 70s, taking and processing the images from Americans satellites. Romania also had agreements with countries in western Europe, such as the agreement with France, through which the Romanian specialists were sent to Toulouse to prepare in the satellite remote sensing field.

Solidus Technology are actively seeking further contracts or Letters of intent from other well known organisations to utilise there processing power for their HPC and AI needs

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This Week in Finance News: 11 Stories You Need to See

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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

  1. Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
    By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few.
  2. Cardinal Health announces two strategic additions to its portfolio
    Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
  3. BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
    This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems.
  4. Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
    “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands.
  5. Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
    The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately.
  6. PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
  7. Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
  8. Finaya Unveils Nationwide Homeownership Platform
    From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient.
  9. GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
    Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too.
  10. GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
    This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics.
  11. Most US shoppers are encountering generative AI while shopping without realizing it
    A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

  • Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
  • Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
  • Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

The post This Week in Finance News: 11 Stories You Need to See appeared first on .

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Blockchain

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

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Blockchain

Bybit Web3 Launches World’s Largest GameFi Playground at Crypto Ark-ade as GameFi Market Size Surges to $20bn

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