LAS VEGAS, NV -- June 25, 2024 --
InvestorsHub NewsWire -- Avant Technologies, Inc. (OTCQB:
AVAI) (“Avant” or the “Company”), a leader in artificial
intelligence (AI) technology specializing in cutting edge AI and
data center infrastructure solutions, today announced a
progress report on the Company’s efforts to deliver unprecedented
and cost-effective compute infrastructure that unlocks the full
potential of AI and ushers in a new era of technological
advancement.
Avant’s Chief Executive Officer
(CEO), William Hisey, discussed the Company’s work to position
Avant at the leading edge of the supercomputer-driven data center
industry and to set new standards for managing and storing AI
applications. “First and foremost, our plan is to address the
pervasive costs and performance limitations that continue to hinder
AI, machine learning, and big data analytics development and
commercialization. There is a real unmet need as rapid growth
across the entirety of the AI and big data industries is outpacing
the necessary infrastructure for an industry that demands
exponential power and capacity while remaining cost
effective.”
The global cloud computing market
size was valued at $545.8 billion in 2022, and it is projected to
reach $1.24 trillion by 20271. Meanwhile, the private
cloud market is projected to grow at a CAGR of 29.7% - growing to
more than $528 billion by 20292, while the global cloud
AI market is estimated to grow to $647 billion by 2030, registering
a CAGR of 39.6%.
Avant’s CEO continued, “Late last
year we unveiled our plans to develop a true edge-native
distributed supercomputer to cater to the complex computing needs
of AI applications and to empower AI software companies with
unprecedented capabilities, enabling them to push the boundaries of
AI development and deployment. Avant’s ‘edge-native’ approach
doesn’t rely on cloud-based services so we can offer AI and big
data companies many advantages over the more familiar
‘cloud-native’ approach, including, reduced latency, improved
security and privacy, increased scalability, and reduced
costs.”
To that end, Avant began to advance
its plan in February 2024 by first entering a technology
co-development partnership with Wired4Tech, Inc., a Florida-based
information technology development company, to aid in the design,
development, and initial implementation of Avant's planned
high-density compute infrastructure and distributed supercomputing
solutions.
Avant’s CEO stated that growing
early demand for the Company’s high-density compute infrastructure
is coming from both the on-premises and colocation segments of the
private cloud sector. The rapidly growing demand for new data
center capacity, combined with the progress of Avant’s solution
development over the past 6 months led the Company to announce in
March 2024, that Avant expects its first state-of-the-art
AI-focused data center would be built in Milwaukee, Wisconsin, and
operational in the first half of 2025.
By late April, Avant announced its
plans to implement a Zero Trust Architecture (ZTA) framework
powered by AI within its data center operations. This strategic
move is aimed at providing the highest level of security for its
customers' critical data.
“By integrating AI with Zero Trust
Architecture, we are creating a robust and future-proof security
framework for our data centers,” stated Avant’s CEO. “This combined
approach ensures the highest level of security for our customers’
data while optimizing data center operations for efficiency and
cost-effectiveness. Avant is committed to providing innovative
technology to help businesses optimize data center operations,
improve resource utilization, and enhance security.”
In May 2024, Avant stated the
Company plans to equip its AI-managed data centers with
HighPerformance Computing (HPC) systems. Avant’s state-of-the-art
facilities will enable Avant to accelerate its advancements in AI
and deliver groundbreaking solutions for its clients.
When discussing the advantage of
equipping its data centers with HPC systems, William Hisey said,
“The rise of AI is revolutionizing industries, and Avant
Technologies is committed to being at the forefront of this
transformation. By building AI-managed data centers with HPC
systems, we will gain the computational power and infrastructure
required to train and deploy sophisticated AI models, which will
ultimately provide even greater value to our customers.”
Also, in May 2024, Avant announced
plans to develop a cutting-edge, proprietary AI software platform
to power its next-generation data centers. This advanced platform
will leverage machine learning algorithms to analyze data, predict
resource needs, and make real-time resource allocation decisions,
ushering in a new era of intelligent and autonomous data center
management.
Avant is developing an AI platform
specifically designed to address the unique challenges and
opportunities of data center management. The platform will be built
on proprietary machine learning algorithms developed in-house.
Avant plans to assess popular open-source frameworks such as
TensorFlow, PyTorch, and Keras to complement and expedite
development, and ensure compatibility with various AI tools and
libraries.
Most recently, Avant 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 would signify 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.
Key features of Flow Wave’s
immersible AI supercomputer servers, include unparalleled compute
performance, power consumption efficiencies, compact physical
design, and enhanced reliability.
“Avant's revolutionary AI software
platform is poised to transform the landscape of data center
management,” said William Hisey. “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 will continue to update
shareholders as developments unfold and Avant delivers its
cutting-edge AI-driven data center infrastructure to the AI
industry.
1. Source: Cloud Computing Market; Markets
and Markets; November 2022
2. Source: Private Cloud Market: Global
Industry Analysis and Forecast (2023-2029); Maximize Market
Research; June 2023
About Avant Technologies,
Inc.
Avant Technologies, Inc. is at the
forefront of AI innovation, specializing in the development and
deployment of advanced data processing solutions. With a focus on
pushing the boundaries of what is possible in AI and machine
learning, Avant Technologies serves a diverse range of industries,
driving progress and efficiency through state-of-the-art
technology.
More information about Avant
Technologies can be found at https://avanttechnologies.com
You can also follow us on social
media at:
https://twitter.com/AvantTechAI
https://www.linkedin.com/company/avant-technologies-ai
https://www.facebook.com/AvantTechAI
https://www.youtube.com/@AvantTechAI
Forward-Looking
Statements
Certain statements contained in
this press release may constitute “forward-looking
statements.” Forward-looking statements provide current
expectations of future events based on certain assumptions and
include any statement that does not directly relate to any
historical or current fact. Actual results may differ materially
from those indicated by such forward-looking statements because of
various important factors as disclosed in our filings with the
Securities and Exchange Commission located at their website
(http://www.sec.gov). In
addition to these factors, actual future performance, outcomes, and
results may differ materially because of more general factors
including (without limitation) general industry and market
conditions and growth rates, economic conditions, governmental and
public policy changes, the Company’s ability to raise capital on
acceptable terms, if at all, the Company’s successful development
of its products and the integration into its existing products and
the commercial acceptance of the Company’s products. The
forward-looking statements included in this press release represent
the Company's views as of the date of this press release and these
views could change. However, while the Company may elect
to update these forward-looking statements at some point in the
future, the Company specifically disclaims any obligation to do
so. These forward-looking statements should not be
relied upon as representing the Company's views as of any date
after the date of the press release.
Contact:
Avant Technologies, Inc.
info@avanttechnologies.com
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