The chief operating officer, Tory Green, will take over as CEO.

In order to foster the expansion of the ecosystem, Shadid also disclosed a sizeable donation of one million IO tokens to the GPU Internet Foundation of io.net.

In a June 9 statement that was published on X, Shadid discussed the company's explosive expansion. He emphasized that one of the decentralized AI firms with the fastest worldwide growth is io.net.

Shadid thanked the staff and the community in the message for their constant support.

In addition, he said that leaving was beneficial for the community and the project's long-term viability.

Green said he was honored to assume the position of CEO. He gave a summary of his plans for carrying out io.net's purpose while also acknowledging Shadid's contributions.

According to Green, io.net presently supports over 20,000 GPUs that are ready for clustering, and it offers AI services to a number of businesses, such as WonderAI, Krea, and Leonardo.

The company's impending June 11 token launch, which represents a major milestone, was also mentioned by the new CEO. The introduction is anticipated to quicken io.net's expansion, with an emphasis on obtaining new vendors and clients.

Green also reaffirmed io.net's goal of becoming the biggest decentralized AI compute network in the world and emphasized the company's dedication to an open and user-friendly platform.

The news of Shadid's departure was made shortly after the June 4 IO Summit Keynote by io.net. The event was aired live and featured visits by prominent people including Dr. Avery Ching, CTO of Aptos, and creator of Solana, Anatoly Yakovenko. It also highlighted the project's most recent accomplishments and future goals.

at addition, a successful $30 million series A fundraising round was emphasized at the speech, and solutions to current problems—such as a network assault employing fake GPUs—were covered.

Shadid reassured the community that io.net's infrastructure is now safe and functional in spite of these obstacles.