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▌$4 million funding participated by Hashkey and FBG Capital
▌Full-stack RWA layer for AI infrastructure

From a traditional perspective, GPUs are the core bottleneck for AI. But RAX sees a deeper dependency.
GPU clusters require stable industrial-grade power supply
Data center energy costs account for 40-60% of operating expenses
Access to energy determines the ceiling for computing power expansion

RAX assetizes the entire AI vertical stack, from GPU chipsets to the energy that powers them, integrating into a unified RWA market.

However, RAX is actually an old project.
Founded in 2024, originally called HashPower
Raised $4 million in June 2025, with Hashkey and FBG Capital participating
Previously signed a $60 million MOU with Aethir and others

Rebranded as RAX, representing a fundamental upgrade in the business model.