Tether Pioneers AI Revolution, Unleashing Transformative Technologies

Tether, the company behind the USDT stablecoin, has announced plans to expand its focus on artificial intelligence (AI) and position itself as a leader in the field. The company aims to develop open-source, multimodal AI products, collaborate with others in the industry, and integrate AI solutions into its products. Tether also plans to invest in and participate in AI community contributions geared toward advancing Open AI and fostering greater transparency and privacy in AI model development.

Tether Pioneers AI Revolution, Unleashing Transformative Technologies

Zurich, Switzerland - February 23, 2023 - Tether, the world-renowned issuer of the USDT stablecoin, unveils an ambitious plan to double down on artificial intelligence (AI), positioning itself as a driving force behind the next wave of technological innovation.

This strategic expansion underscores Tether's unwavering commitment to advancing the accessibility and efficiency of AI, shaping the future of the technology sector. The company's focus will encompass key areas such as developing cutting-edge, open-source multimodal AI products that set industry benchmarks.

"Artificial intelligence has the transformative power to reshape every aspect of human existence, in both the physical and digital realms," said Paolo Ardoino, CEO of Tether. "Our strategic investment in AI aligns perfectly with our vision of fostering innovation, redefining boundaries, and democratizing access to privacy-preserving technologies."

Tether's expansion into AI is a testament to its multifaceted portfolio, which now includes investments in peer-to-peer telecommunications, renewable energy, and Bitcoin mining. In 2023, the company invested over $1 billion in El Salvador's volcano-powered Bitcoin mining project, underscoring its commitment to the crypto ecosystem.

Furthermore, Tether's journey into the AI space commenced in September 2023 with the acquisition of $427 million worth of Nvidia graphic processing units by its subsidiary, Damoon Designated Activity, jointly owned with Bitcoin miner and data cloud provider Northern Data Group. This strategic alliance aims to harness the capabilities of generative AI cloud computing to unlock unprecedented technological advancements.

As Tether embarks on this transformative odyssey, it will prioritize collaboration with external entities, integrating AI solutions into market-driven products while tackling real-world challenges. The company's active participation in the Open AI community is a testament to its commitment to fostering greater transparency, privacy, and the democratization of AI technology.

"By investing in Northern Data Group's high-performance technologies, we establish a new division within Tether dedicated to redefining the boundaries of AI," said Ardoino. "Together, we will create industry benchmarks for innovation, utility, and transparency, empowering a future where AI serves as a transformative force for good."

Tether's ambitious AI expansion showcases the company's unwavering commitment to driving technological progress and shaping the industries of tomorrow. As the largest company in the cryptocurrency industry, Tether's foray into AI positions it as a pivotal player in the emerging era of transformative technologies, poised to revolutionize the way we live, work, and interact with the world around us.

About Tether

Tether is the largest company in the cryptocurrency industry and is the issuer of the USDT stablecoin, the most widely used stablecoin by trading volume. Tether has a team of experienced professionals with backgrounds in technology, finance, and law. The company is committed to providing a reliable and secure platform for the transfer of value and has become an essential part of the cryptocurrency ecosystem.

Contact:

Tether Media Relations
media@tether.to