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Epic Venture Partners Invests $8.1m in Rain AI after Accelerated Customer Demand

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Epic Venture Partners has invested $8.1 million in Rain AI’s mission to create energy-efficient AI hardware using in-memory compute technology, enabling advanced AI models to run locally on various devices.

GAINESVILLE, Fla., May 26, 2024 /PRNewswire-PRWeb/ — Epic Venture Partners has invested $8.1m into Rain AI, a Sam Altman-backed startup. This was part of Rain AI’s $25 million Series A extension round. Rain AI is an AI chip startup led by CEO William Passo, with a mission to build the world’s most cost and energy-efficient hardware for AI. GPUs have powered the AI revolution with brute force, yet AI’s demand for energy remains insatiable. Rain AI is addressing this core problem via its in-memory compute proprietary technology that will bring the AI technologies of tomorrow, from personalized robotics to putting models the size of ChatGPT on your phone.

AI is defining the Fourth Industrial Revolution, yet we are only scratching the surface on use cases. Rain AI’s in-memory compute technology and upcoming AI accelerator chips will continue to unlock the myriad of use cases.

William Passo, CEO of Rain AI, expressed enthusiasm to be partnering with Epic Venture Partners, “The AI problem is an energy problem. Being able to run the most advanced models locally in any form factor is AI’s holy grail, including running massive LLMs, such as GPT-4, on any device. Creating this future with abundant and scalable artificial intelligence is critical for the coming AI revolution. We’ve never seen more customer demand for our technology than we do now, and I’m excited for what’s to come in 2024 and beyond.”

Rain AI’s secret sauce is its unique approach that eliminates the biggest drivers of energy usage. Unlike other AI hardware where 90% of energy is consumed by data flow, Rain AI’s proprietary digital in-memory compute technology combines both memory and processing. And by co-designing their chips with some of the world’s best AI models, they are able to dramatically reduce the energy consumption of AI compute compared to other solutions.

Rain AI is now in talks with major hyperscalers and semiconductor companies to license its IP, with plans to launch its first chip ready for customers in 2025. The use-cases will span across multiple industries, including drones, VR goggles, smartphones, robotics, wearables, and more.

Arthur Lee, managing partner of Epic Venture Partners expressed his viewpoint, “AI is defining the Fourth Industrial Revolution, yet we are only scratching the surface on use cases across enterprise, military, and consumer applications. There’s a wide range of capabilities to explore. Rain AI’s in-memory compute technology and upcoming AI accelerator chips will continue to unlock the myriad of use cases and allow them to be performed faster, more efficiently, and with more privacy protection at the Edge.”

Bryan Edelstein, managing partner of Epic Venture Partners added, “Custom AI hardware needs to evolve as rapidly as software to fully capitalize on the continued advancements in AI. We are excited to support Rain AI’s mission in achieving this.”

Rain AI was founded in 2017 and quickly gained recognition after being accepted into Y-Combinator in 2018. The company secured a $5 million seed round led by Sam Altman, co-founder of OpenAI, and subsequently relocated to Silicon Valley to further its research and development efforts. In 2022, Rain AI raised a $25 million Series A round. Rain AI has now raised over $40m from notable investors including Sam Altman, co-founder/CEO of OpenAI, which created ChatGPT; Jeff Rothschild, a founding engineer at Facebook; Daniel Gross, co-founder of AI startup Cue (acquired by Apple); Oliver Cameron, Founder of autonomous vehicle startup Voyage (Acquired by Cruise); Jaan Tallinn, founding engineer at Skype; and Scott Gray, an AI hardware expert and early member of OpenAI’s technical team. Rain AI has also assembled a strong advisory board which includes Dr. Jackson Hu, the former CEO & Chairman of UMC, the 2nd largest semiconductor manufacturer in the world; and Dr. Arijit Raychowdhury, a leading expert of in-memory compute and Chair of the Electrical and Computer Engineering Department at Georgia Tech university.

Rain AI is well-positioned to disrupt the AI & semiconductor market, which is projected to surpass $1.3 trillion by 2032.

For media inquiries or further information, please contact:

Arthur Lee or Bryan Edelstein
Epic Venture Partners
IR@epicventurepartners.com

Media Contact

Arthur Lee, Epic Venture Partners, 1 352-256-2530, IR@epicventurepartners.com, https://www.epicventurepartners.com

View original content:https://www.prweb.com/releases/epic-venture-partners-invests-8-1m-in-rain-ai-after-accelerated-customer-demand-302155553.html

SOURCE Epic Venture Partners

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GIGABYTE Named Official PC Monitor Sponsor of FINAL FANTASY XIV Fan Festival 2026 in Anaheim

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LOS ANGELES, April 23, 2026 /PRNewswire/ — GIGABYTE, the world’s leading computer company, today announced its role as the Official PC Monitor Sponsor of the FINAL FANTASY XIV Fan Festival 2026, taking place from April 24 to April 25 at Anaheim Convention Center in California, USA. As part of the sponsorship, GIGABYTE will power the event’s PvP tournament stage with its MO27Q2A OLED gaming monitors, delivering an immersive and competitive gameplay experience for both players and fans.

At the center of the showcase is the GIGABYTE MO27Q2A, the OLED gaming monitor engineered to elevate the experience of FINAL FANTASY XIV. From richly detailed environments and dramatic lighting effects to fast-paced raid mechanics and PvP encounters, the MO27Q2A enhances every aspect of gameplay with deep contrast, vibrant color accuracy, and ultra-fast 0.03ms response time. Its OLED panel brings Eorzea to life with true blacks and exceptional clarity, while 280Hz high refresh rates ensure smooth, responsive performance during intense battles, making it an ideal display for both competitive play and immersive exploration.

Beyond the MO27Q2A monitor, GIGABYTE’s expanding monitor lineup continues to deliver cutting-edge display technology for gamers and creators alike. Featured models include the MO27U2 and MO32U, offering high-resolution visuals and immersive performance for both competitive and cinematic experiences, as well as the GO27Q24G, designed for smooth, responsive gameplay with high refresh rates and versatile performance in the budget friendly segmentation.

To further celebrate the partnership, GIGABYTE will be hosting a special social media giveaway in collaboration with the FINAL FANTASY XIV team, featuring 30 exclusive merchandise prizes. Fans can participate via a Gleam-powered campaign by following GIGABYTE and FINAL FANTASY XIV social channels for a chance to win. The giveaway will run from April 23 to April 30, inviting the community to engage and celebrate the event together.

With its focus on OLED innovation, high refresh rates, and gamer-centric features, GIGABYTE continues to push the boundaries of display performance, empowering players to experience their favorite titles with unmatched precision and immersion.

For more information on GIGABYTE monitors and the giveaway experience, please visit the official event page to learn more.

Media Contact:
GIGABYTE USA PR Team
City of Industry, California
gbtusa_marketing@gigabyteusa.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/gigabyte-named-official-pc-monitor-sponsor-of-final-fantasy-xiv-fan-festival-2026-in-anaheim-302752155.html

SOURCE GIGABYTE

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Fun Services Announces Full Integration of Cliffhanger Productions Amusements Operations Beginning 2026

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TOTOWA, N.J., April 23, 2026 /PRNewswire/ — Fun Services is proud to announce the full transition and integration of Cliffhanger Productions Amusements operations under the Fun Services brand, effective January 1, 2026.

Following the acquisition of Cliffhanger Productions Amusements contracts in 2023, Fun Services has continued to operate and service events under the Cliffhanger name during a multi-year transition period. Beginning in 2026, all clients, events, and bookings will be managed directly through Fun Services.

This transition marks a significant milestone in the company’s growth, reinforcing its commitment to delivering high-quality amusement rentals, event services, and customer support across the region.

“Over the past few years, we’ve worked closely with Cliffhanger clients to ensure a seamless experience,” said Anthony Lombardi III, CEO of Fun Services. “As we move into 2026, we’re excited to officially bring all operations to Fun Services, allowing us to expand offerings, streamline service, and continue building strong relationships with our clients.”

Fun Services will continue to provide the same popular attractions and event equipment that clients have come to expect, including:

Mechanical ridesCarnival game trailersInflatablesFull-service event setups

Clients can expect enhanced booking processes, expanded inventory options, and continued reliability backed by the Fun Services team.

Anthony Lombardi, Owner of Fun Services, added, “This transition allows us to grow while maintaining the quality and consistency that Cliffhanger clients are used to. Our focus remains on making every event successful, safe, and memorable.”

All existing contracts and relationships will be honored, with no disruption to scheduled events. Clients will now work directly with Fun Services for all future bookings, inquiries, and event planning needs.

For more information or to book an event, please contact:

Fun Services
(973) 450-9610
info@njfunservices.com
https://eventsbyfunservices.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/fun-services-announces-full-integration-of-cliffhanger-productions-amusements-operations-beginning-2026-302752174.html

SOURCE Events by Fun Services

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Alchemy Technology Group Acquires IOvations to Grow Its Northeast Presence

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HOUSTON, April 23, 2026 /PRNewswire/ — Alchemy Technology Group, an IT advisory, consulting, and reseller firm and a portfolio company of Avance Investment Management, has acquired IOvations, a Burlington, Massachusetts-based cybersecurity solution provider.

The acquisition expands Alchemy’s cybersecurity portfolio and further extends its geographic reach into the Northeast, giving customers access to deeper expertise in cloud security, advanced threat detection, and Zero Trust architectures. IOvations brings long-standing customer relationships and proven experience helping organizations build modern security strategies.

“IOvations is a perfect fit in our acquisition strategy,” said Wes Davis, Co-CEO and Co-Founder of Alchemy Technology Group. “They have a terrific, longstanding customer base in a dynamic growth market for us. We love quality businesses built on the same core principals as Alchemy: trusted relationships, elite domain expertise, and a history of execution.”

For IOvations’ customers and partners, joining Alchemy provides access to a broader set of capabilities while preserving the specialized security focus they rely on today.

“Becoming part of Alchemy strengthens our ability to support our clients and their evolving needs,” said Jim Sacco, CEO and Founder at IOvations. “Our clients will gain access to expanded expertise in cloud, data, digital workspace, AI, and application development, while continuing to work with the same IOvations team they know and trust. Culturally, there is a strong alignment around our client-first approach, focusing on positive outcomes, investing in technical talent, and building long-term relationships.”

This transaction marks Alchemy’s second acquisition in as many months. With the support of Avance, Alchemy intends to continue its strategy of building a national platform through targeted acquisitions that complement its strong organic growth.

About Alchemy Technology Group

Alchemy Technology Group is an award-winning reseller of next-generation technology solutions and a provider of high-touch consulting and advisory services. Focused on critical software solutions such as cybersecurity, digital workspace, data, cloud, application development, and AI, Alchemy was purpose-built to go beyond the offerings of a traditional VAR and take a truly client- and vendor-centric approach. For more information, visit www.alchemytechgroup.com.

About IOvations

IOvations is a Burlington, Massachusetts-based cybersecurity solutions provider focused on helping customers protect critical systems, data, and users. The company specializes in modern security architectures with a focus on Zero Trust strategies and protecting critical infrastructure. IOvations works closely with customers to design and operate practical, resilient security programs that keep pace with evolving risks and regulatory requirements. For more information, please visit www.iovations.com.

About Avance Investment Management 

Avance Investment Management is a private equity firm with a passion for building great businesses in partnership with talented founders and management teams. Avance focuses primarily on thematic investments within the Services, Technology, and Consumer areas in the U.S., seeking attractive opportunities with catalysts for growth and fragmented spaces with consolidation opportunities. Avance’s team has a long history of partnering with founder-owned businesses, industry executives, and management teams and aims to add value to each investment through the application of its STAGE™ value creation framework. Avance has offices in New York and Miami. For more information, please visit www.avanceinv.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/alchemy-technology-group-acquires-iovations-to-grow-its-northeast-presence-302752178.html

SOURCE Alchemy Technology Group, LLC

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