What is the Ultra Ethernet Consortium?

During the latest ‪@AMD‬ Advancing AI event, ‪@broadcom‬ 's VP and GM of Data Center Solutions Jas Tremblay Explains the vision and Mission of the Ultra Ethernet Consortium (UEC).
The Ultra Ethernet Consortium(UEC) was established on July 19, 2023 as a joint venture between cloud providers and consumers, to create an open Source, fast extension of the Ethernet standard. The founding members of the consortium were: ‪@meta‬ , ‪@HPE‬ ,‪@AMD‬ , ‪@Intel‬ ,‪@broadcom‬ , Arista, Eviden, ‪@Microsoft‬ and ‪@CiscoSystems‬.
The main goal of the consortium is to challenge proprietary fabrics such as Nvidia's Infiniband and other Ethernet extensions from ‪@Google‬ and ‪@amazonwebservices‬.
Original Video here:
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So what is it