PANews reported on March 3 that according to official news, the decentralized AI protocol Prime Intellect announced that it has completed a financing of US$15 million, led by Founders Fund, with participation from Menlo Ventures, Andrej Karpathy (EurekaAI, Tesla, OpenAI), Clem Delangue (Hugging Face), Dylan Patel (SemiAnalysis), Tri Dao (Together.AI), Balaji Srinivasan (Network School), Emad Mostaque (Stability AI, Intelligent Internet), Jake Medwell (8VC co-founder), Brendan McCord (Cosmos Institute), Sandeep Nailwal (Polygon), etc. This brings its total financing amount to more than US$20 million.

According to reports, Prime Intellect is building a peer-to-peer protocol for computing and intelligence that will enable collective creation, ownership, and access to sovereign open source AI. The Prime Intellect protocol is already running on the testnet, building a trustless, community-driven ecosystem where contributors will benefit from the models they help create.