companies

io.net

Decentralized GPU cloud that aggregates idle enterprise and consumer hardware into on-demand clusters for AI training and inference.

io.net operates a decentralized GPU marketplace built on Solana, pooling spare capacity from data centers, crypto miners, and independent GPU owners into on-demand clusters for AI and machine learning workloads. Founded in 2022 and headquartered in New York, the company positions itself as an alternative to reserving GPUs directly from AWS, Google Cloud, or Lambda, at prices it says run well below list rate, by routing work across a distributed network rather than a single provider's data center. The company raised a $30 million Series A in March 2024 led by Hack VC, with Multicoin Capital, Solana Ventures, and OKX Ventures among the backers, shortly before launching its IO token. In 2025 it expanded past raw compute rental with IO Intelligence, a hosted inference API for open-source models, aimed at developers who want model access without managing GPU infrastructure directly. io.net has weathered real reputational damage: founding CEO Ahmad Shadid stepped down two days before the token launch in June 2024 amid public allegations that the network's advertised GPU counts were inflated, with co-founder Tory Green taking over as CEO. The company disputed the specific allegations, but the episode left a lasting mark on how skeptically the decentralized-compute sector gets covered.

Founded

2022

Headquarters

New York, United States

Sector

infrastructure