INVESTMENT IN GMI CLOUD

Transcend Capital Partners is excited to announce our latest investment in GMI Cloud, a Taiwanese-American leading AI-native GPU cloud provider with data centers across the globe offering rapid access to the latest GPUs optimized for AI and ML workloads.

 

The AI boom has generated a massive demand for graphics processing units (GPUs), essential for integrating AI technology into enterprise systems. Providers of GPU infrastructure are helping businesses access the necessary chips to meet this demand.

 

Founded in 2022, GMI Cloud initially focused on providing Bitcoin computing node services. However, noticing a growing demand for GPU computing power from investors and clients, GMI Founder CEO, Alex Yeh, shifted the company's focus to AI cloud infrastructure. Being the first NCP (NVIDIA Cloud Partner) in Taiwan and the largest account for NVIDIA Taiwan, the company has convenient access to high quality GPUs, and has already secured first-batch access to NVIDIA’s cutting-edge H200 GPUs.

 

The current $82 million Series A round is led by Headline Asia and other notable VCs, including Transcend Capital Partners; along with strategic investors such as Thai energy company Banpu and Taiwanese electronics company Wistron. Banpu will supply power to GMI Cloud, while Wistron will co-develop products with the startup. These strategic partnerships enhance GMI Cloud's capacity to meet the growing global demand for GPU resources, according to Alex. This round of $82 million includes $15 million in equity and $67 million in debt financing.

 

GMI Cloud is already serving clients in healthcare, research, and telecom industries. The newly acquired funds will be used to establish a new data center in Colorado, essential for expanding its capacity in North America and complementing existing data centers in Taiwan, Thailand, and Malaysia. Additionally, the company aims to increase its workforce to 60-70 staff members by the end of the year, up from its current 53 employees in Asia and the U.S. Transcend is excited to be part of GMI’s journey to support the development of advanced AI tools more accessible and practical for companies around the world.