The Board of Directors of DigitalOcean has appointed Paddy Srinivasan as the Company’s new Chief Executive Officer (CEO) and as a member of its Board of Directors. Mr. Srinivasan will start on February 12, 2024. After serving as CEO of GoTo, a $1 billion plus SaaS supplier of cloud communication and IT management tools, Srinivasan is now joining DigitalOcean.
Following its acquisition of Paperspace for $111 million in cash last year, DigitalOcean has also announced the virtualized availability of NVIDIA H100 Tensor Core GPUs on its platform. One of the most potent GPUs on the market, NVIDIA's H100 Tensor Core GPUs, is now available via Paperspace, a cloud infrastructure provider for highly scalable GPU-accelerated applications. With the help of this, new and expanding digital enterprises may now access cutting-edge infrastructure that is essential for creating the next wave of AI/ML apps.
Stepping Down: Yancey Spruill
Srinivasan takes the helm from outgoing CEO Yancey Spruill, who has successfully led DigitalOcean since 2019, having taken the company public, driven material improvements in the company’s financial profile, completed several accretive acquisitions, and materially expanded the Company’s customer base. Mr. Spruill will step down from his positions as CEO and a member of the Company’s Board of Directors upon Srinivasan’s start date.
With his technical know-how, strategic vision, and relentless dedication to meeting developer demands, Paddy Srinivasan would be a perfect leader to further DigitalOcean’s goal of streamlining cloud computing so that companies can spend more time creating software that changes the world.
“I am deeply honored to be joining the DigitalOcean team,” said Paddy Srinivasan, the newly appointed CEO at DigitalOcean. “DigitalOcean has established itself as a critical player in the cloud ecosystem that participates in a large and growing segment of the market and differentiates itself with a dedication to simplicity in the cloud, providing solutions that are tailored to the needs of developers in small and growing digital businesses. I look forward to collaborating with the talented team at DigitalOcean to continue to deliver a full portfolio of easy-to-use, cost-effective and highly supported cloud solutions for our customers, enabling them to realize their ambitions and use technology to fuel their growth.”
“I am deeply honored to be joining the DigitalOcean team,” said Paddy Srinivasan, the newly appointed CEO at DigitalOceanAccording to DigitalOcean, Mr. Srinivasan has continuously thrived at creating customer-loved products and growing companies with long-term value throughout the course of his more than 25-year career. He co-founded Opstera, demonstrating the breadth of his expertise in product and technology leadership. He has also had success at the world’s biggest technology firms, such as Microsoft and Oracle, as well as in entrepreneurial ventures.
Paddy Srinivasan held multiple positions at GoTo (previously LogMeIn), including SVP of Products and General Manager, VP of Products and Engineering, and Chief Executive Officer. Mr. Srinivasan was General Manager at Amazon for Data, Alexa AI, and Machine Learning Platform Services before joining GoTo.
“Paddy’s entire career has centered on providing simple, powerful, and scalable technology solutions,” said Warren Adelman, Executive Chairman of DigitalOcean’s Board of Directors. “His extensive product-led growth experience and proven technical leadership will enable us to execute our strategic initiatives and propel DigitalOcean to expand its large and loyal customer base while increasing the value we provide those customers, further cementing the company's position as the go-to cloud provider for developers at the world’s most innovative startups and growing businesses.”
Demand for NVIDIA H100 GPUs
NVIDIA H100 GPU demand has been driven by enterprises aiming to improve their AI/ML capabilities and their increased interest in faster AI computing. These accelerators can be perfect for workloads like large-scale AI model training and high-performance computing (HPC) because of their remarkable performance, which may dramatically reduce training iteration durations and model inference response times. NVIDIA H100 GPUs are available for immediate use or may be held for a certain period of time, giving users the flexibility to choose the most economical consumption option for their particular business requirements.
“While many vendors are optimizing their offerings to serve large enterprises, DigitalOcean is proud to offer startups and growing digital businesses with reliable and flexible access to NVIDIA H100 GPUs,” said Kanishka Roychoudhury, GM of AI/ML at DigitalOcean. “As we look ahead, DigitalOcean remains committed to providing solutions that offer superior performance and keep costs in check, lowering the barriers of entry for smaller businesses looking to leverage AI to improve profitability and efficiency.”
These NVIDIA H100 GPUs are available to customers as single units or clusters, offering flexibility for a variety of applications, from multi-node model training to intricate inferencing services. The underlying network infrastructure has also been significantly enhanced by DigitalOcean, which is now able to provide 3.2TBps connection rates to consumers using one or more of these eight-chip setups for best performance.
“Businesses of all sizes are increasingly looking to AI to boost efficiency and better serve customers,” said Dave Salvator, Director of Accelerated Computing Products at NVIDIA. “The availability of NVIDIA H100 GPUs through DigitalOcean’s Paperspace platform will help empower the next generation of startups, providing greater access to the tools they need to develop cutting-edge AI products and solutions.”
