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$IO

39 pieces · Mar 2024 to Jul 2026 · 1 flagship

Sectors

AI39 DePIN38 Privacy3 DeFi2 L1/L21

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Coverage per year

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Price and coverage

io.net $IO

Calls: 5 bullish
Since first call, bullish: −94%
Since latest call, bullish: −1.2%
Now: $0.159

bullish thesis bearish thesis coverage, no call map, list or mentionShow all 9 piecesCalls onlyWeekly closes in USD, log scale, as of 23 Oct 2026. Call figures turn cyan when the price moved the way the call pointed. Each marker links to its piece.

Start here · the strongest pieces on $IO

Article30 Jan 2025DeepSeek: Implications for DePIN and the broader AI SectorLong-form article on DeepSeek R1's claimed sub-$5M training cost, its MoE and sparse activation design, and what it means for GPU scarcity and decentralized GPU networks like io.net. Covers closed vs open models and DePIN challenges.Thesis12 Nov 2024Why io.net ($IO): 5,079 GPUs vs Render 277 and Aethir 168Bets on io.net as the aggregation layer for geo-distributed GPU clusters, citing 5,079 GPUs on the network versus 277 on Render and 168 on Aethir. Solana orchestrates the compute marketplace.Thesis25 Nov 2024io.net thesis: largest GPU network, rising daily earnings and agent demandArgues decentralized GPU networks are a key innovation of the cycle, with io.net the largest, offering geo-distributed clusters on Solana rails. Expects agents paying for their own compute to add demand and daily network earnings to rise.

Timeline · every piece, newest first

2026 1

16 Jul 2026io.net IDE tokenomics: #1 revenue DePIN at 5.3x MC/ARRHighlights an A1 Research report arguing io.net's rebuilt tokenomics tie burns to verified onchain revenue and pay suppliers in stable USD, breaking the typical DePIN death spiral. Trades at 5.3x MC/ARR vs peers at 79x to 700x.ThesisDePINAIDeFi

2025 8

13 Jul 2025Six post-TGE AI plays to watch: TAO, NEAR, TIG, IO, NIL, CODECDescribes six live AI tokens without Kaito leaderboards: Bittensor subnets as digital commodity markets, NEAR as AI-native L1, TIG for algorithm IP co-ownership, io.net GPU clustering, Nillion blind compute and Codec's VLA framework.MapAIDePIN

30 Apr 2025io.net x Nillion: private decentralized compute stack for personalized AIArgues that pairing io.net GPUs with Nillion's blind compute forms a private, decentralized stack for personalized AI apps, cutting latency and deployment costs by up to 90% versus centralized providers. Sees demand for IO rising as privacy-preserving AI scales.ThesisAIDePINPrivacy

29 Apr 2025io.net thesis: largest decentralized GPU network and its revenue tractionBull case for io.net as the leading DeAI/DePIN GPU network: SOC2 compliance, bare metal access, up to 90% cost savings, a buyback and burn model and strong Q4 2024 revenue growth. Calls GPU access one of the few DePIN use cases with clear PMF beyond crypto.ThesisDePINAI

18 Apr 2025IO Intelligence breakdown: 25 open-source models, VectorDB and AI agentsWalks through io.net's IO Intelligence platform: Vector Database as a Service, 25 open-source models with benchmark context and prebuilt API-accessible agents, all on io.net's decentralized compute. Accompanied by an interactive dashboard he built.BreakdownAIDePIN

01 Apr 2025Why io.net is a top AI infra opportunity: traction and partnershipsLists reasons for conviction in io.net: rising revenue and adoption, key partnerships, over 5M compute hours served at market-leading cost, high cluster stability and SOC2 compliance.ThesisDePINAI

07 Mar 2025io.net as a PMF case study in crypto, and why the Nillion tie-up mattersUses io.net as an example of real PMF: decentralized compute serving gaming to AI. Argues the Nillion partnership pairs blind storage and compute with GPUs at scale, driving demand for private agents and more IO adoption.ThesisDePINAIPrivacy

30 Jan 2025DeepSeek implications for DePIN: why open-source efficiency favors io.netTL;DR of his DeepSeek article: the $5M training cost claim is doubtful, but efficiency gains help open-source AI and demand for decentralized compute. io.net, which owns no GPUs, has little H100 depreciation risk unlike DePINs that bought hardware.ThesisAIDePIN

30 Jan 2025DeepSeek: Implications for DePIN and the broader AI SectorLong-form article on DeepSeek R1's claimed sub-$5M training cost, its MoE and sparse activation design, and what it means for GPU scarcity and decentralized GPU networks like io.net. Covers closed vs open models and DePIN challenges.ArticleAIDePIN

2024 30

04 Dec 2024io.net x CreatorBid: AI agents as a demand driver for decentralized GPUsArgues AI agents on decentralized GPU networks are inevitable, citing CreatorBid running image and video models on io.net. More agents means more usage and network earnings, bullish for IO as the compute layer.ThesisDePINAI

25 Nov 2024io.net thesis: largest GPU network, rising daily earnings and agent demandArgues decentralized GPU networks are a key innovation of the cycle, with io.net the largest, offering geo-distributed clusters on Solana rails. Expects agents paying for their own compute to add demand and daily network earnings to rise.ThesisDePINAI

12 Nov 2024Why io.net ($IO): 5,079 GPUs vs Render 277 and Aethir 168Bets on io.net as the aggregation layer for geo-distributed GPU clusters, citing 5,079 GPUs on the network versus 277 on Render and 168 on Aethir. Solana orchestrates the compute marketplace.ThesisDePINAI

10 Oct 2024Why decentralized AI matters: three areas where blockchains helpArgues AI is centralized by big tech's capital, compute and talent, and uses io.net's framework of distributed MLOps, hardware and provenance to explain how blockchains can decentralize it. Calls IO the leader in distributed hardware.ExplainerAIDePIN

08 Oct 2024Why io.net ahead of Coinbase listing: 300k GPUs, $15k daily GMVBull case for IO ahead of its Coinbase listing: a GPU cloud market projected above $120B by 2032, over 300k verified GPUs and early traction. IO sits below $1.5B FDV and has beaten BTC, ETH and SOL over 7 and 30 days.ThesisDePINAI

08 Oct 2024Seven AI plays beyond TAO: io.net, NEAR, Nillion, Ritual, Fhenix, RISC ZeroWatchlist of seven DeAI plays beyond TAO, each with a short thesis: GPU aggregation, user-owned AI, a subnet network, private compute, inference, FHE and ZK compute.BreakdownAIDePIN

23 Sep 2024io.net thesis: decentralized GPU aggregation for AI computeThread arguing io.net will be the foundational GPU layer for AI by aggregating idle GPUs from other networks and data centers using Ray-based geo-distributed clustering. Covers AI agent demand, partnerships and recent adoption.ThesisDePINAI

12 Sep 2024io.net vs Nvidia: a $233B daily move equals 179x IO FDVFrames io.net as a way to access scarce institutional GPUs at low cost, noting Nvidia's one-day $233B market cap swing equals 179x IO's FDV. Argues IO is undervalued.Market takeDePINAI

11 Sep 2024The case for AI on Aptos: Move, io.net and NillionArgues Aptos is a leading base layer for AI agents thanks to Move's security, parallel execution and low fees, plus partnerships with io.net for GPUs and Nillion for blind compute.ThesisAIL1/L2Privacy

05 Sep 2024io.net State of the Network: why IO could be a generational opportunityBreaks down io.net's $40M raise and long-term plan against rising AI compute costs and a roughly $2.5T cloud market by 2032. Argues it is the only decentralized GPU network with Ray-based geo-distributed clustering.BreakdownDePINAI

28 Aug 2024Who participates in a decentralized GPU marketplace like io.netMaps io.net's demand side (AI builders priced out of centralized clouds) and supply side (datacenters, miners, other DePINs, consumer hardware). Cites 320k+ verified GPUs, 24k+ cluster-ready, and US datacenters running at 12-18% capacity.ExplainerDePINAI

24 Aug 2024The race to AGI is a battle for compute, and how DePIN can counter itArgues AGI development is bottlenecked by finite compute, with Nvidia at about 80% of GPU supply and big clouds absorbing most of it. Says geo-distributed clustering by DePINs like io.net can even the playing field.ThesisAIDePIN

22 Aug 2024Geo-distributed GPU clustering: io.net's key differentiatorExplains GPU clustering and how io.net can combine GPUs from several regions, for example 25 in the US, 25 in Germany and 125 in Singapore, into one cluster. Notes the added latency and complexity versus single-location clusters.ExplainerDePINAI

21 Aug 2024io.net staking explained: multipliers, 14-day unstake and slashingDetails IO staking: 200 IO minimum per multiplier (1 to 10 per GPU), stake = M x N x 200, a 14-day unstaking period and slashing with burns for fake devices. Phase I limits staking to device owners.ExplainerDePINAI

15 Aug 2024AI narrative thesis: GPU DePINs, agents and app-layer playsArgues AI will be an evergreen narrative and groups plays into GPU infrastructure, agent infrastructure that solves chain fragmentation, and app-layer automation. Says a fraction of the $79B quarterly cloud spend moving to DePINs would make it a top crypto sector.ThesisAIDePIN

14 Aug 2024io.net and NetMind partnership: on-demand GPU capacity for AI appsio.net will supply NetMind with additional GPU power on demand at peak times, framed as cooperation among decentralized compute networks rather than competition. NetMind sources idle compute for AI-powered Web3 apps.BreakdownDePINAI

12 Aug 2024DePIN GPU networks versus a $79B quarterly cloud marketCites Messari's $20B DePIN market and Q2 2024 cloud spend of $79B (up 22% YoY), with AWS at 32%, Azure 23% and Google Cloud 12%. Argues GPU DePINs like io.net and Aethir can serve startups priced out of centralized GPUs.DataDePINAI

09 Aug 2024io.net and Leonardo AI: GPU partnership and DePIN demand caseArgues $IO is underappreciated after io.net expanded its Leonardo AI partnership to add L40S GPUs alongside A100s. Cites over 318,000 verified GPUs and 28,000 cluster-ready GPUs against enterprise cloud spend above $79B in Q2 2024.ThesisDePINAI

08 Aug 2024AI crypto landscape: GPU compute, agent infra and onchain DeFi agentsAlpha list of AI crypto projects in three buckets: GPU and cloud compute, autonomous agent and AI application infrastructure, and onchain DeFi agents. Argues undervalued leading AI tokens could lead when the market returns.MapAIDePINDeFi

21 Jul 2024AI market sizing and the DePIN GPU case: io.net and AethirCites the AI market at $184B in 2024 heading to $826B by 2030 (Statista) and UBS's $420B 2027 revenue forecast, then argues io.net and Aethir can win GPU demand. Aethir commits 1,000 H100s to io.net, which has about 28,000 cluster-ready GPUs.DataAIDePIN

18 Jul 2024io.net deep dive: GPU aggregation, Aethir H100s and network metricsDetails io.net's aggregation of consumer, datacenter and Aethir H100 capacity, with 28,000 cluster-ready and over 294,000 verified GPUs. Cites 378,000+ inferences, 1.9M onchain transactions and about $5.25M in block-reward revenue to providers.BreakdownDePINAI

11 Jun 2024io.net at Binance listing: 18x the GPUs of Render at a similar FDVCompares io.net's GPU supply to Render at launch: 18x as many GPUs while RNDR sits at a $4.4B FDV versus a $3.5B pre-market FDV for IO. Frames IO as a decentralized AI compute play.Market takeAIDePIN

06 Jun 2024Distributed GPU computing and io.net: House of Chimera report TL;DRDigests the House of Chimera GPU computing report: AI demand versus GPU supply, consumer versus datacenter GPU economics and io.net's staking model. Adds his own caveat that utilization is only 1-5% versus Akash's 25%, so demand must catch up with supply.BreakdownAIDePIN

13 May 2024io.net as AI compute infrastructure: IO Elements, IO Cloud v2 and IOG PackageArgues the AI narrative suits retail since idle hardware can be contributed to farm airdrops, and examines io.net's IO Elements, IO Cloud v2 with Proof of Work verification every 6 hours and the upcoming IOG Package. Compute access is currently permissioned.ThesisAIDePIN

06 May 2024io.net FUD explained: SQL injection, fake GPU spoofing and new verificationRecaps the io.net controversy: an SQL injection on 25 April and a bad actor flooding the network with fake GPUs so only a fraction of supply was usable. Judges the response adequate, with spoofing protection, public Proof of Work logs and an explorer separating GPU tiers.Market takeAIDePIN

17 Apr 2024io.net thesis: decentralized GPU network and a $10B FDV caseBull case for io.net clustering idle GPUs from data centers, miners and consumer devices to serve AI/ML inference at a fraction of cloud cost. Cites compute demand rising 10x every 18 months and OpenAI's $700K+ daily cost, and expects over $10B FDV at peak.ThesisAIDePIN

31 Mar 2024io.net worker setup guide for the Ignition airdropStep-by-step guide to running an io.net worker on macOS with Docker. Notes the Ignition program's three independent reward pools, a scoring window of April 11 to 25 and that io.net raised $30M at a $1B FDV.ExplainerAIDePIN

20 Mar 2024io.net by the numbers: 62K GPUs, 15x Render and 62x FilecoinNetwork stats for io.net: over 62K GPUs, 11K CPUs, 4K clusters, nearly 110K workers, $485K worker revenue and 167K verified inferences, implying 15x Render's and 62x Filecoin's GPU counts.DataAIDePIN

14 Mar 2024io.net update: $30M raise at $1B and worker nodes up from 25k to 70kRecaps io.net's architecture with new data: a $30M round at a $1B valuation and worker nodes growing from 25k to over 70k in three weeks, plus airdrop participation steps via Galxe quests.DataAIDePIN

06 Mar 2024io.net: a decentralized GPU network for AI computeBreakdown of io.net's DePIN of clustered idle GPUs serving AI/ML workloads, its IO Engine and IOG Package, with network stats of 23.5K nodes, 23,094 GPUs, about $3K daily GMV and more than 5x Render's GPU supply.BreakdownAIDePIN

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io.net71 Render18 Nvidia20 Nillion35 Aethir26 Filecoin8 Bittensor34 OpenAI13

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