Venice reports $150 million annual revenue from private AI inference
Venice, a private AI inference platform, has surpassed $150 million in annual revenue while processing over 500 billion tokens daily. The company attributes its growth to demand for privacy-focused AI usage that is decoupled from cryptocurrency price movements.
Venice, founded by Eric Voorhees, reports annual revenue exceeding $150 million and is handling over 500 billion AI tokens per day. The platform routes users to various models, primarily open-source ones, while keeping prompts and history local to ensure privacy. This approach distinguishes Venice from services like OpenAI or Anthropic. The company has approximately 200,000 to 300,000 paid subscribers who pay via credit card. Venice uses its revenue to buy back and burn its VVV token. The platform utilizes Near AI infrastructure on the backend for specific privacy-focused tiers. The growth is attributed to demand for private AI usage, particularly from crypto-native users and companies requiring data privacy. This demand is independent of Bitcoin or Ethereum price movements. The company noted that its business model does not rely on the price of Bitcoin or ETH to go up, but rather on whether people want to use more AI.