Home > web3.0 > body text

Tether CEO Paolo Ardoino Hints at Challenging Tech Giants With Investments in Decentralized AI and Brain-Computer Interfaces

王林
Release: 2024-08-12 21:25:11
Original
300 people have browsed it

Tether (USDT), the largest stablecoin issuer by market capitalization, seems to want to seize the opportunity in the artificial intelligence race by investing in decentralized technologies and brain-computer interfaces to challenge the dominance of major tech giants like Microsoft and Amazon.

Tether CEO Paolo Ardoino Hints at Challenging Tech Giants With Investments in Decentralized AI and Brain-Computer Interfaces

Stablecoin giant Tether (USDT) is reportedly setting its sights on challenging the tech industry behemoths, such as Microsoft, Amazon, and Google, through investments in decentralized artificial intelligence (AI) and brain-computer interfaces.

In an interview with WIRED, Tether CEO Paolo Ardoino discussed the company’s evolution and strategy, which now includes a significant push into venture capital. Driven by rising interest rates, Tether has seen substantial profits, amassing billions of dollars in the past two years. This has led the company to explore new investment opportunities.

“In the last 24 months, Tether has accrued around $11.9 billion profit. Now, with this amount of money, we could have distributed it all to shareholders, to make everyone happy. Instead, part of it is being added to the reserve to further back the stablecoin, and the rest is basically being held in the investment arm.”

Paolo Ardoino

Ardoino highlighted that Tether’s venture capital endeavors are steered by principles that extend beyond traditional financial metrics. Instead, the company is motivated by the “ethos of decentralization” and financial freedom that were initially embodied by Bitcoin. He also suggested that decentralization could offer critical independence in the realm of AI, which he described as “heavily politicized.”

“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.”

Paolo Ardoino

Tether’s venture investments will differ from the traditional VC approach of seeking out high-risk, high-reward opportunities, Ardoino explained. Instead, the company is more interested in projects that align with its vision of interdependence. He also noted that over 90% of Tether’s profits will be reinvested in ventures that resonate with these values, rather than being distributed as “dividends.”

Earlier this year, in March, Tether announced the formation of a new AI division, which Ardoino said is focused on “the development of open-source AI models and collaborating with other firms to integrate them into products that could address real-world challenges.” This initiative is part of a broader strategy that began in 2023 with Tether’s investment in Northern Data, a German public company that has shifted its operations from crypto mining to providing computational resources for AI-driven data analysis.

When addressing potential concerns regarding investment risks, Ardoino mentioned that Tether’s investment approach involves rigorous due diligence. He emphasized the company’s commitment to not only investing but also actively supporting and, if necessary, managing the companies it chooses to back.

The above is the detailed content of Tether CEO Paolo Ardoino Hints at Challenging Tech Giants With Investments in Decentralized AI and Brain-Computer Interfaces. For more information, please follow other related articles on the PHP Chinese website!

source:php.cn
Statement of this Website
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
Popular Tutorials
More>
Latest Downloads
More>
Web Effects
Website Source Code
Website Materials
Front End Template
About us Disclaimer Sitemap
php.cn:Public welfare online PHP training,Help PHP learners grow quickly!