DIGIASIA Corp Subsidiary Digi Tech Secures NVIDIA H200 GPUs

June 25, 2024

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DIGIASIA Leaders. The company has secured the allocation of an initial 5,120 NVIDIA H200 GPUs

Digi Tech, the subsidiary of DIGIASIA Corp – a leading FaaS ecosystem provider – has secured the allocation of an initial 5,120 NVIDIA H200 GPUs

Leading fintech-as-a-service (FaaS) ecosystem provider, DIGIASIA Corp, announces its subsidiary Digi Tech Ltd has secured an initial tranche of 5,120 NVIDIA H200 GPUs, enabling the company to develop and deploy advanced AI enterprise solutions for fintech, telecom and government sectors.

Now, Digi Tech not only leverages DIGIASIA’s existing infrastructure but can further power its ecosystem with NVIDIA’s superior hardware.

The GPU allocation will fuel the significant expansion of DIGIASIA’s comprehensive FaaS ecosystem, as it taps into an estimated US$200-300bn annual global opportunity for AI across financial services.

DIGIASIA: Cutting-edge AI powered by NVIDIA

Digi Tech’s allocation of NVIDIA H200 GPUs will propel DIGIASIA’s development of leading AI solutions, with the first tranche of NVIDIA GPUs expected to be deployed by Q4 2024.

DIGIASIA says it will base its operations on AI initiatives out of the Dubai International Finance Centre (DIFC) in the UAE, meaning it can also leverage the UAE and DIFC’s global leadership in advancing leading AI solutions.

With its initial 5,120 H200 GPU allocation, Digi Tech has the option to acquire an additional 10,240 GPUs.

The total market value of the initial tranche of NVIDIA GPUs exceeds US$400m, with the option for additional GPUs exceeding a valuation of US$1.2bn.

This represents a significant investment for DIGIASIA, which plans to deliver NVIDIA-powered advanced AI solutions across Southeast Asia, India and the Middle East.

To support the development of these new innovative solutions, DIGIASIA hopes to leverage its existing enterprise partners and identify incremental strategic partners for AI data centre hosting.

Prashant Gokarn, CEO of DIGIASIA

Prashant Gokarn, CEO of DIGIASIA, says: "NVIDIA GPUs are at the core of any AI-based solution. We are thrilled with this allocation, which allows us to develop the next generation of DIGIASIA’s embedded finance platform with generative AI, enhancing precision and productivity for enterprises.

“This will allow us to continue to support our existing and new enterprise customers in the AI revolution."

Subir Lohani, CFO and Chief Strategy Officer of DIGIASIA adds: “Since going public in April, we have consistently executed our strategy to provide innovative solutions to our enterprise clients and expand our geographic reach.

“We plan to roll out the initial NVIDIA-powered solutions by the fourth quarter of 2024, driving significant growth and attractive returns.

“We are excited to grow this initiative from the DIFC Innovation Hub/AI Campus in the UAE which has become a global hub for the advancement of AI solutions."

Subir Lohani, CFO and Chief Strategy Officer of DIGIASIA

NVIDIA: MEA expansion follows ‘most valuable company’ tag

By providing its hardware to DIGIASIA, NVIDIA has expanded its footprint in MEA at a time when it gained the title of the world’s most valuable company, making significant gains on the likes of Apple and Microsoft.

Its developments in AI and chip production have seen its market cap hit US$3.3tn, overtaking Microsoft as today’s technology leader.

NVIDIA’s growth has soared in 2024, with its market cap tripling in the last seven months alone. It reportedly sees a staggering average daily turnover of US$50bn and accounts for 16% of all trading in S&P 500 companies.

In FinTech Magazine’s June 2024 edition, we sat down with NVIDIA VP of Global Financial Services, Malcolm deMayo, about the company’s development from chip manufacturer to AI leader.

And, more recently, NVIDIA’s Head of Fintech Developer Relations, Pahal Patangia, spoke at FinTech LIVE New York, where he discussed AI’s transformative effect on financial services.