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The AI Eye: VSBLTY (CSE: $VSBY.C) (OTC: $VSBGF) Closes Second Tranche of Private Placement and Pure Storage (NYSE: $PSTG) Unveils TAP Program Including NVIDIA (NASDAQ: $NVDA) Joint Offering

 

Point Roberts, WA and Vancouver, BC - September 20, 2019 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) brings you today's edition of The AI Eye - watching stock news, deal tracker and advancements in artificial intelligence.

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The AI Eye: VSBLTY (CSE: $VSBY.C) (OTC: $VSBGF) Closes Second Tranche of Private Placement and Pure Storage (NYSE: $PSTG) Unveils TAP Program Including NVIDIA (NASDAQ: $NVDA) Joint Offering

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Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence

Stocks discussed: (CSE:VSBY) (5VS.F) (VSBGF) (NYSE:PSTG) (NasdaqGS:NVDA)

VSBLTY Groupe Technologies Corp. (CSE:VSBY) (5VS.F) (VSBGF) has closed the second tranche of its private placement of $1,000 principal amount 10% convertible unsecured debentures for gross proceeds $1,857,120, of which $1,691,000 were raised from the brokered portion of the Offering and $166,120 gross proceeds were raised from the non-brokered portion of the Offering . Echelon Wealth Partners Inc. acted as lead agent and sole bookrunner for the Brokered Offering.

To date, the Company has raised $3,022,120 pursuant to the Offering.

The Debentures will bear interest from September 19, 2019 at a rate of 10% per annum on an accrual basis, calculated and payable semi-annually, and will mature on September 19, 2021.

Pure Storage, Inc. (NYSE:PSTG) has launched its Technology Alliance Partner (TAP) Program, a collaboration focussed on hybrid cloud, transitioning to fast, consolidated architectures, and deriving business value from AI and analytics. One partner is NVIDIA Corporation (NasdaqGS:NVDA), with whom Pure Storage has a joint offering called AI-Ready Infrastructure (AIRI), aimed at helping customers leverage AI to get a headstart on the competition. Charlie Boyle, General Manager of DGX systems at NVIDIA, commented:

"Together, NVIDIA and Pure are enabling enterprises to get a faster start on their AI journey. AIRI, the industry's first AI-at-scale solution for enterprise, has helped organizations around the globe eliminate the complexities of infrastructure design, with faster, simplified deployment and manageability. We look forward to the continued partnership in building differentiated solutions for the enterprise through Pure's Technology Alliance Partner program."

NA AI Chip Market to Hit $30.62 Billion by 2027

A report from Research and Markets finds that the North American Artificial Intelligence Chip market will grow from $2.5 billion in 2018 to $30.62 billion in 2027, with a compound annual growth rate (CAGR) of 32 percent in the forecast period 2019-2027. An excerpt from the report description reads:

The increase in data generation due to the increasing proliferation of digital services is the key driver that is driving the growth of the AI chip market. Moreover, the adoption of cloud-based AI solutions is expected to boost the AI chip market growth in the forecast period. Artificial intelligence and its applications such as machine learning and deep learning have been growing tremendously over the last few years. AI is being utilized extensively in numerous areas ranging from cloud computing applications to digital assistants and self-driving/autonomous vehicles. With ever increasing use cases of AI and the evolving market landscape, the advancements in present chips have become a necessity.

Sam Mowers, Investorideas.com

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