DigitalOcean completed the acquisition of Paperspace for $111m.

DigitalOcean, a cloud computing vendor, completed the acquisition of Paperspace, a leading provider of cloud infrastructure for highly scalable GPU-accelerated applications, for $111m. Together, DigitalOcean and Paperspace will unlock opportunities for startups and small businesses that have, to this point, been somewhat limited to large enterprises, with large IT departments and R&D budgets. SMBs and startups will now be able to delve into AI/ML applications such as generative media, text analysis, natural language understanding, recommendation engines, and image classifications, all with the support of Paperspace’s cutting-edge capabilities, and DigitalOcean’s famous simplicity and community. Paperspace’s pre-configured Notebook environments provide an ideal test pad for AI/ML model exploration and fine-tuning. And when the time comes to bring those models to life, Paperspace’s streamlined workflow ensures a smooth transition to hosting and scaling for production.