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ceτi AI Secures $80M of NVIDIA GPUs and Hardware to Expand Global AI Infrastructure Network by 25x

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    Vancouver, Canada, June 11th, 2024, Chainwire

    ceτi AI is proud to announce an extended purchase agreement with Cedarcross International Technologies, Inc. for three additional high-performance computing (HPC) servers, each equipped with 8 NVIDIA H100 Tensor Core GPUs, plus an option to purchase an additional 200 identical HPC servers. The agreement marks the completion of ceτi AI’s pilot-scale installation in British Columbia, and opens the door to a 25x expansion of the ceτi AI Global Infrastructure Network with additional GPU and server allocation through Q3, 2024. 

    The new servers, powered by NVIDIA’s most advanced H100 GPUs, are expected to arrive within approximately 45 days, further boosting the network’s capacity to support a broad range of AI application development and research. The firm’s pilot installation presents a state-of-the-art solution for web3 protocols, independent development teams, and advanced AI research teams in an 8-server, 64 GPU scalable unit that can be expanded linearly and indefinitely.

    In addition to the network’s immediate expansion, the agreement also includes an option to purchase up to 200 identical HPC servers from Cedarcross through September 30th, 2024, underscoring both firms’ commitment to sustained growth and technological advancement in the decentralized AI space. ceτi AI has identified hyperscale data center candidate sites for the additional servers in Montreal, New Jersey, and Santa Clara, and is now in the process of securing investment for their purchase, installation, and initial operation. 

    “We’re seeing unprecedented demand from institutional developers, independent researchers, and blockchain protocols for the physical chip and server infrastructure set to power the coming Age of Artificial Intelligence. Deploying the enormous physical infrastructure for decentralized AI requires strong relationships, world-class talent, and deep cooperation in pursuit of our common goal. We’re proud to work with Cedarcross as a valued partner that brings all of these qualities to the table,” said Dennis Jarvis, CEO of ceτi AI.

    About Cedarcross

    Cedarcross International Technologies Inc. is an investee company of Alset Capital Inc., a publicly traded Canadian company listed on the TSX Venture exchange. Cedarcross specializes in providing low-cost access to cutting-edge, high-performance computing hardware, primarily powered by NVIDIA’s advanced H100 chips. 

    About ceτi AI

    ceτi AI is at the forefront of the decentralized artificial intelligence (dAI) movement. Committed to innovation and accessibility, ceτi AI develops globally distributed, high-performance, scalable AI infrastructure designed to power the next generation of AI development worldwide. ceτi AI was founded in March of 2024 by long-time industry leaders Dennis Jarvis (CEO), Aaron Smith-Hayes (CTO), Austin Spencer (CFO), and Tony Evans (Chief Strategy Officer). 

    For more information about ceτi AI and our initiatives, users can visit http://taoceti.ai

    Users can follow ceτi AI on X, Telegram, and Discord for the latest updates and community discussions.

    Contact

    CEO
    Dennis Jarvis
    ceτi AI
    [email protected]

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    Global Cybersecurity for Critical Infrastructure in Financial Sector Research Report 2024-2030: Cost of Cyber Incidents Pushes Financial Firms to Strengthen Security Protocols

    2024-09-30T10:49:39Z

    Dublin, Sept. 30, 2024 (GLOBE NEWSWIRE) -- The "Global Cybersecurity for Critical Infrastructure in Financial Sector Market (2024 Edition): Market Size, Trends, Opportunities and Forecast, by Industry Sector, Deployment, Component Region, By Country: 2020-2030" report has been added to ResearchAndMarkets.com's offering.

    Cybersecurity for Critical Infrastructure in Financial Sector Market registered market value of around USD 9.9 Billion in 2023 is expected to grow at a CAGR of 7.2% during 2025-2030.

    The cybersecurity market for critical infrastructure in the financial sector is driven by a myriad of factors, each contributing to the increasing complexity and urgency of deploying robust security measures. Primarily, the escalating frequency and sophistication of cyber threats stand as the foremost driver. Financial institutions are prime targets for cybercriminals due to the vast amounts of money and valuable data they hold. Attacks such as data breaches, ransomware, and phishing have become more sophisticated, prompting banks, investment firms, and insurance companies to continually evolve their cybersecurity defenses.

    Moreover, the regulatory environment significantly influences market dynamics. Global financial entities such as the Financial Stability Board (FSB) and national regulators like the Federal Reserve in the United States, the European Central Bank in Europe, and similar bodies worldwide have tightened cybersecurity regulations and guidelines. Compliance with these regulations is not merely a legal formality; it is imperative for maintaining consumer trust and operational integrity. For example, regulations such as the General Data Protection Regulation (GDPR) in Europe and the New York State Department of Financial Services (NYDFS) cybersecurity regulations in the U.S. have set stringent standards for data protection and security, driving the adoption of advanced cybersecurity solutions.

    The integration of technology into financial services, commonly referred to as 'fintech,' is another critical driver. As banks and financial institutions leverage technologies like blockchain, artificial intelligence (AI), and cloud computing to enhance efficiency and customer service, they also increase their vulnerability to cyber-attacks. This technological adoption creates a paradox where the very tools that enhance capability also expose institutions to greater risks, necessitating advanced cybersecurity measures.

    Another significant driver is the cost implications of cyber incidents. Financial implications include direct costs such as recovery and remediation costs, and indirect costs like reputational damage and loss of customer trust, which can be even more detrimental in the long term. The potential financial losses resulting from cyber incidents can dwarf the investment in cybersecurity, making a compelling case for proactive expenditure in this area.

    Furthermore, the shift towards digital and remote operations, accelerated by the COVID-19 pandemic, has expanded the attack surface for many financial institutions. The increased adoption of remote work models and reliance on digital channels for customer interactions have exposed new vulnerabilities, such as insecure home networks and the use of personal devices for work-related activities. This shift necessitates a reevaluation and often a redesign of cybersecurity strategies to cover endpoints and secure data across more dispersed networks.

    Segment Insights

    By Deployment, On-Premise accounts for around 66% share in the year 2023. The enduring preference for on-premise cybersecurity solutions in the financial sector is driven primarily by the need for control and security. Financial institutions, particularly those with extensive legacy systems and stringent regulatory requirements, often find on-premise solutions more feasible as they offer greater control over the security environment. This control is crucial not only for managing the complex and sensitive nature of financial data but also for complying with strict data residency and privacy laws that govern the sector.

    Geographical Insights

    Americas is the largest region in the Global Cybersecurity for Critical Infrastructure in Financial Sector Market. One of the most significant drivers in the Americas' cybersecurity market is the increasing incidence and sophistication of cyberattacks. Financial institutions are inherently attractive targets due to their financial assets and the sensitive financial data they manage. In recent years, cybercriminals have demonstrated increased capabilities with attacks becoming more diverse and sophisticated, including ransomware, phishing, and Advanced Persistent Threats (APTs).

    This threat landscape mandates continuous enhancements in cybersecurity defenses, which drives significant investment in the sector. Regulatory compliance is another crucial driver. In the Americas, particularly in the United States and Canada, regulatory bodies have established stringent cybersecurity frameworks that financial institutions must comply with. In the U.S., frameworks such as the Cybersecurity Maturity Model Certification (CMMC) and guidelines from the Federal Financial Institutions Examination Council (FFIEC) set the bar for cybersecurity practices.

    Similarly, in Canada, the Office of the Superintendent of Financial Institutions (OSFI) mandates cybersecurity compliance to safeguard the financial system. These regulations ensure that cybersecurity is not just about risk management but is also a compliance necessity, pushing financial institutions to allocate substantial resources to meet these standards.

    Global Cybersecurity for Critical Infrastructure in Financial Sector Market : Historic and Forecast

    Impact Analysis of Macro Economic Factors on Market

    • Global Prevalence of Cybersecurity for Critical Infrastructure in Financial Sector (% of overall cybersecurity)
    • Cybersecurity for Critical Infrastructure in Financial Sector Matrix
    • Market: Dashboard
    • Market: Market Size and CAGR, By Value, 2020-2030 (USD Billion & CAGR)
    • Market: Market Size and CAGR, By Volume, 2020-2030 (Number of Software Installations) & CAGR)
    • Market: Market Value Assessment
    • Assessment of Degree of Impact of COVID-19 on Market

    Market Segmentation: By Industry Sector

    • Market By Industry Sector Overview
    • Market Attractiveness Index, By Industry Sector (2025-2030)
    • Market Size, By Banking, By Value, 2020H-2030F (USD Billion & CAGR)
    • Market Size, By Financial Services, By Value, 2020H-2030F (USD Billion & CAGR)
    • Market Size, By Insurance, By Value, 2020H-2030F (USD Billion & CAGR)
    • Market Size, By Fintech Companies , By Value, 2020H-2030F (USD Billion & CAGR)
    • Market Size, By Other Industry Sectors, By Value, 2020H-2030F (USD Billion & CAGR)

    Market Segmentation: By Component

    • Market By Component Overview
    • Market Attractiveness Index, By Component (2025-2030)
    • Market Size, By Solutions, By Value, 2020H-2030F (USD Billion & CAGR)
    • Market Size, By Services, By Value, 2020H-2030F (USD Billion & CAGR)
    • Market Size, By Software, By Value, 2020H-2030F (USD Billion & CAGR)
    • Market Size, By Other Components, By Value, 2020H-2030F (USD Billion & CAGR)

    Market Segmentation: By Deployment

    • Market By Deployment Overview
    • Market Attractiveness Index, By Deployment (2025-2030)
    • Market Size, By On-Premise, By Value, 2020H-2030F (USD Billion & CAGR)
    • Market Size, By Cloud, By Value, 2020H-2030F (USD Billion & CAGR)

    Key Companies

    • Okta Inc.
    • Wipro Inc.
    • Infosys Limited
    • Rapid7
    • Zscaler
    • Broadcom Inc.
    • Accenture
    • Tata Consultancy Services (TCS)
    • HCL Technologies
    • L&T Technology Services Limited (LTTS)

    For more information about this report visit https://www.researchandmarkets.com/r/7pg448

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