VANCOUVER, BC / ACCESSWIRE / April 9, 2020 / AMPD Ventures Inc. (“AMPD” or the “Company”) (CSE:AMPD)(FRA:2Q0) confirms the successful deployment of a high-performance computing environment designed to cater to the requirements of companies in the artificial intelligence (“AI”), machine learning and deep learning sectors, hosted at its DC1 data centre in Vancouver, British Columbia.
Further to the news release issued by the Company on February 7, 2020, Variational AI Inc. (“Variational AI” or “Variational”) will be one of the first companies to use AMPD’s machine learning infrastructure environment. Variational will host with AMPD “Enki”, an artificial intelligence-powered small molecule discovery service designed to help discover new molecules for pharma research.
AMPD’s AI environment is based around the latest graphic processing unit (“GPU”) technology, which is a critical component of high-performance computing for artificial intelligence and machine learning. While traditional central processing units (“CPU”) are good at handling multiple tasks, GPU’s are designed to handle a few specific tasks very fast simultaneously. So far, these tasks have included the processing of the exceptionally high-quality graphics for the latest 3D games as well as real-time visual effects rendering. GPU’s are increasingly being used to solve the complex math problems for AI, machine learning and deep learning faster than CPUs.
“Vancouver has already amassed a critical mass of some 100 to 150 applied AI companies, and as a Vancouver-based company ourselves, we expect that our GPU-based hosted environment will yield positive outcomes for Variational AI and other local AI companies requiring GPU-based compute solutions,” stated Anthony Brown, CEO of AMPD.
“The GPU-based infrastructure that AMPD offers is mission critical in our race to potentially find therapeutics for COVID-19,” said Variational AI Co-Founder & CEO, Handol Kim. “Variational AI, like many of our fellow AI for drug discovery companies, is focused on addressing the most urgent needs for fast and safe development of drugs. It is critical for us to have access to powerful, scalable compute resources such as those offered by AMPD.”
About Variational AI
Variational AI offers an early drug discovery service that leverages state-of-the-art generative machine learning to discover novel, efficacious, safe and synthesizable small molecules for customers in biopharmaceuticals. Founded in 2019, Variational AI performs multi-property molecular optimization to dramatically reduce the time to discover high-quality drug-like molecules with a higher probability of success in clinical trials.
For more information on Variational AI, please contact:
About AMPD Ventures Inc.
AMPD specializes in providing high-performance cloud and computing solutions for low-latency applications, including video games and eSports, digital animation and visual effects, and big data collection, analysis and visualization. For further information concerning the company and its business, please see the long-form prospectus dated October 11th, 2019, supporting its application for listing on the CSE. A copy of the prospectus was filed under the company’s profile at SEDAR.
For further information please contact Investor Relations:
Tel: 604-332-3329 ext. 3
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ “Anthony Brown”
CEO & Director
AMPD Ventures Inc.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Certain statements made herein may contain forward-looking statements or information within the meaning of the applicable Canadian securities laws. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information herein include, but are not limited to, the growth opportunities in our business and industries we work within, use of GPU’s, global spending on AI systems, the impact of COVID-19, and opportunities for companies supplying GPUs.
Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information, including the impact of COVID-19, and the demand for GPUs. Although our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include uncertainty regarding the unknown impact of COVID-19, change in demand of for GPUs, new technologies being developed and those factors discussed in the section entitled “Risk Factors” in the Company’s Form 2A Listing Statement dated October 17, 2019 and “Risk and Uncertainties” in the Company’s most recent Management Discussion and Analysis filed on SEDAR.
There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada.
All forward looking statements and information contained in this News Release are qualified by this cautionary statement.
SOURCE: AMPD Ventures Inc.
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