- Tether plans to invest $1 billion in AI and biotech sectors.
- CEO Paolo Ardoino highlights expansion into Data, Finance, and Neural Implants.
- Tether allocates $2 billion for emerging markets, infrastructure, and sector diversification.
Tether, the company responsible for the USDT stablecoin, has once again captured global attention with its strategic investment initiatives, this time revealing plans to venture into the artificial intelligence and biotechnology fields. A June 11th announcement from Tether Holdings Inc., the investment division of the stablecoin leader, indicates an intention to invest over $1 billion in these sectors within the coming year.
Additionally, the stablecoin’s recent expansion into various sectors, such as Data, Finance, and Neural Implants, among others, has been underscored by the company’s CEO, Paolo Ardoino.
Investment in Technology
Moreover, as mentioned in a recent interview with the CEO, Tether’s investment department is currently evaluating hundreds of proposals each month, predominantly from emerging companies. The team is also growing to fifteen members. The company has a strong interest in areas like alternative financial infrastructure for emerging markets, AI, and biotechnology.
Ardoino added:
“We can offer AI computing to all the companies we have invested in. It’s all about investing in technology that helps with disintermediation with traditional finance. Less reliance on the big tech companies like Google, Amazon, and Microsoft.”
In addition, Ardoino mentioned that the stablecoin titan has already allocated over $2 billion to satisfy these areas of interest. This year, the company also announced its intention to expand its services and aggressively enter into infrastructure solutions within the data, banking, energy, and education sectors. As per a recent declaration by the CEO on X, Tether reported a net profit of $4.52 billion for the first quarter of 2024.
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