Tether Ramps Up AI Focus, Unveiling Ambitious Plans for Transformative Innovation

Tether, the issuer of the largest stablecoin USDT, announces a strategic shift towards artificial intelligence (AI), aiming to enhance efficiency and accessibility in the technology sector. The company plans to develop multimodal AI products, collaborate with partners, and contribute to open AI initiatives, prioritizing transparency and privacy in AI model development. Tether's AI focus aligns with its investments in resilient technologies and its expansion into other sectors, including telecommunications, renewable energy, and Bitcoin mining.

Tether Bolsters AI Focus, Unveiling Ambitious Plans

New York, NY - Tether, the issuer of the world's largest stablecoin by market capitalization, USDT, today announced a significant expansion of its artificial intelligence (AI) initiatives, signaling the company's unwavering commitment to innovation and accessibility in the technology sector.

AI-Driven Innovation

Tether's foray into AI underscores its deep-rooted belief in the transformative power of this rapidly evolving field. The company's focus will revolve around the development of open-source, multimodal AI products, designed to establish industry-leading standards. Through strategic collaborations, Tether will integrate AI solutions into market-driven applications, addressing real-world challenges and fostering progress.

Moreover, Tether's involvement in AI community contributions will center on the advancement of open AI principles, emphasizing the unrestricted use and dissemination of AI models. The company recognizes the critical need to cultivate transparency and privacy in AI model development, addressing concerns about the potential monopolization of AI technologies.

"Artificial intelligence is poised to reshape countless aspects of our lives, both physical and digital," said Paolo Ardoino, Chief Executive Officer of Tether. "Our investment in Northern Data Group, a company renowned for its robust and high-performance technologies, aligns precisely with our vision to harness the transformative power of AI."

Talent Acquisition and Industry Expertise

In line with its AI expansion, Tether is actively seeking exceptional individuals to join its team and drive the project's growth. Interested candidates are encouraged to explore career opportunities linked to this initiative.

"Today's announcement marks the establishment of a dedicated AI division within Tether," Ardoino continued. "We aim to redefine the boundaries of AI, democratize privacy-preserving open AI technology, and set industry benchmarks for innovation, utility, and transparency."

Strategic Investments and Diversification

Tether's AI focus complements its strategic investments in diverse sectors, demonstrating the company's commitment to innovation beyond the cryptocurrency realm. In September 2023, Tether's subsidiary, Damoon Designated Activity, jointly owned with Bitcoin miner and data cloud provider Northern Data Group, acquired $427 million worth of Nvidia graphic processing units (GPUs) for generative AI cloud computing, which will be deployed through Northern Data's Taiga Cloud service.

Tether has also ventured into peer-to-peer telecommunications, renewable energy, and Bitcoin mining. In June 2023, the company invested in El Salvador's $1 billion renewable energy project, Volcano Energy, which harnesses wind and solar energy to power Bitcoin mining operations. Additionally, Tether invested in Georgia-based payment processor CityPay.io.

USDT's Market Dominance

The expansion of Tether's AI initiatives coincides with the stablecoin's continued dominance in the market. Earlier this month, USDT's market capitalization surpassed $100 billion, reinforcing its position as the most widely used cryptocurrency for value storage and exchange.

Conclusion

Tether's unwavering commitment to AI innovation, coupled with its strategic forays into diverse sectors, solidifies the company's position as a driving force in the advancement of technology and the broader digital economy. By embracing transparency, fostering collaboration, and investing in game-changing talent, Tether is poised to shape the future of AI and its impact on society.