Nvidia-Backed Cassava Pushes to Expand AI Access Across Africa

Nvidia Corp.-backed Cassava Technologies plans to raise as much as $700 million to build and upgrade a network of data centers across Africa with artificial intelligence chips, with the goal of making AI services more affordable for companies and nonprofits, as well as some of the world’s poorest people.

Cassava, a company founded by Zimbawean billionaire Strive Masiyiwa, will raise the money in the form of debt and equity, Chief Executive Officer Hardy Pemhiwa said in an interview. Pemhiwa didn’t provide additional details on the financing.