Tether Embraces AI, Announces Hiring Drive

Blockchain firm Tether, creator of the USDT cryptocurrency, announces its expansion into artificial intelligence (AI) to enhance accessibility and efficiency in the field. Tether's AI strategy includes investing in open-source multimodal AI models, creating AI-focused roles, and partnering with Northern Data Group for AI cloud platforms and data center infrastructure.

Tether Embraces Artificial Intelligence, Unveils Hiring Drive

Tether, the blockchain company renowned for its USDT cryptocurrency, is venturing into the realm of artificial intelligence (AI). The company announced its AI initiative on Tuesday, aiming to enhance the accessibility and efficacy of AI applications.

Tether's AI strategy involves investing in open-source, multimodal AI models and "novel research applications."

"Artificial intelligence has the potential to revolutionize almost every aspect of our lives, both in the physical and digital realms," said Tether CEO Paolo Ardoino in a statement. "Our investment in Northern Data Group, known for its robust and high-performance technologies, aligns perfectly with our vision."

Alongside the AI announcement, Tether introduced the creation of new AI-focused roles, including AI Engineer and Head of AI Research and Development, within its Tether Data division. While both positions can be primarily remote, Tether maintains physical office locations in major cities such as Paris, Madrid, London, and Milan.

In November, Tether invested $622.6 million in Frankfurt, Germany-based Northern Data Group, a technology conglomerate specializing in generative AI cloud platforms, Bitcoin mining operations, and data center infrastructure provision.

"As concerns grow over the monopolization of AI technologies by Big Tech, Tether Data, with this announcement, is stepping forward to champion transparency and privacy in AI development," Tether stated.

Tether, which has faced scrutiny in the past for not fully disclosing its ties to Chinese companies, did not immediately respond to Decrypt's request for comment.

Headquartered in the British Virgin Islands, Tether Limited created the USDT cryptocurrency in late 2014 as "Realcoin" before rebranding it to Tether.

USDT currently ranks as the third-largest cryptocurrency by market capitalization, trailing only Bitcoin and Ethereum. Unlike Bitcoin and Ethereum, which have reached all-time highs of $73,737 and $4,878, respectively, USDT is a stablecoin pegged to the U.S. dollar. According to CoinGecko, USDT is currently trading at $0.99.

As their name suggests, stablecoins aim to provide some stability in the often-volatile cryptocurrency market.

With AI disrupting and transforming virtually every industry sector, the intersection between the emerging technology and cryptocurrency is becoming increasingly prominent. Companies such as chipmaker Nvidia have successfully straddled both industries, posting record revenue and stock prices.

While USDT itself is not an AI-centric cryptocurrency, AI tokens and the broader cryptocurrency market have rallied since the launch of Bitcoin ETFs in January. Fetch AI's FET token is currently trading at $2.85, up 14.2% over the past week. SingularityNET's AGIX is $1.18, up 14.6% over the week, and Ocean Protocol's OCEAN is $1.19, up 15.4% over the week.

Edited by Ryan Ozawa.