The computing power trading platform Ornn is negotiating the third batch of Series A financing, with a valuation potentially exceeding 1 billion USD

According to exclusive reports from Axios Pro, sources say that the computing power trading platform Ornn is negotiating the third tranche of its Series A financing, which could value the computing power trading startup at over $1 billion. If the deal is finalized, Ornn will become the highest-valued startup in the field.

This negotiation follows Ornn's completion of the second tranche of Series A financing at a valuation of $800 million, just about four months after it completed its seed round financing. In June of this year, Ornn completed a $33 million seed round financing led by a16z crypto.

Ornn primarily builds financial infrastructure for AI computing power, connecting neocloud with the GPU computing power of data centers to buyers willing to sign short-term contracts, and publishes a computing power price index, which has been integrated into Bloomberg terminals. The Intercontinental Exchange (ICE) plans to launch contracts linked to the Ornn computing power price index, but has not yet received regulatory approval.