AI Computing Platform Foundry Rebrands, Debuts New Name and Logo

Foundry, an AI computing platform, has revealed it is changing its name to “Mithril”.

The rebranding comes after the company secured $80M in seed and Series A funding last year.

Based in California, the firm was established in 2022 by Jared Quincy Davis, who previously worked as a research scientist on Google DeepMind’s deep learning team and earned his PhD in computer science from Stanford.

It was during his PhD studies that Davis encountered a shortage of GPUs – the powerful chips essential for running AI systems.

This experience inspired him to create Foundry to give AI developers access to cloud-based GPUs, especially as supply bottlenecks began to appear and organisations started to embrace cloud solutions to enhance their IT infrastructure.

“Traditional AI cloud procurement models mean that AI-native companies need to constantly shop around for the best compute prices and often need to buy more than what they actually need,” explains Davis.

Adding: “By building on our omnicloud platform, Mithril customers have been able to massively simplify getting access to the compute they need. Rather than spending effort negotiating with every cloud, they can provision compute for a few hours or multiple months through a single platform with transparent, market-based pricing.”

Since its limited preview launch in August of last year, the company’s platform usage has reportedly surged by over 550%, with clients now including Cursor, LG AI Research, and Arc Institute.

Source: Mithril