⚡ Tether to Challenge Microsoft, Google, and Amazon in AI Arena
posted 12 Aug 2024
In an interview with Wired, Tether CEO Paolo Ardoino discussed the company’s plans to expand its venture investments, particularly in the AI sector.
Tether will focus on projects that emphasize decentralization, which is seen as crucial for maintaining the independence of the AI industry. Ardoino is confident that Tether can contribute meaningfully to this effort.
We are already seeing how AI is being heavily politicized. We believe that having a player independent of the classic actors — like Amazon, Microsoft, and Google — is going to be very, very important,Ardoino noted.
Paolo also shared that Tether has earned around $11.9 billion in profit over the last two years. While some of this revenue is used to strengthen USDT reserves, the rest is being funneled into new investments.
Earlier this year, in March, Tether launched the Tether․data project, aimed at developing open-source AI models and integrating AI into current products. Prior to this, in 2023, Tether invested in Northern Data, a German firm that supplies computing power for AI-related analytics.
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