USDT stablecoin issuer, Tether, says it is pursuing expansion into the field of artificial intelligence, a move intended to enhance the accessibility and effectiveness of AI technologies.
“With a market capitalization exceeding $100 billion for its core product USDt and a reputation for strategic investments in diverse sectors, including peer-to-peer telecommunications, renewable energy and bitcoin mining, Tether continues to demonstrate its commitment to innovation,” said Tether.
The new division, called Tether Data, plans to pioneer the development of open-source, multi-modal AI models to set new industry standards, driving innovation and accessibility within AI technology.
It will also lead collaborations to integrate AI solutions seamlessly into market-driven products, leveraging the technology to address real-world challenges. Lastly, actively engaging with the broader ecosystem through community contributions, Tether Data seeks to advance the field of open AI while showcasing its innovative projects.
“Artificial intelligence stands poised to revolutionize nearly every facet of our lives, both in the real and digital worlds,” said CEO, Paolo Ardoino, who recently took over.
“Our investment in Northern Data Group, known for resilient and high-performance technologies, aligns perfectly with our vision.”
CEO, Paolo Ardoino, took over in December 2023, adding on to his roles as CTO and Chief Strategy Officer in a leadership transition that signified Tether’s dedication to actively venturing into new business endeavors, including:
Peer-to-peer communications
Sustainable energy
Robust data storage, and
Bitcoin mining
USDT | Tether CTO Takes Over as CEO as Company Seeks ‘Continued Focus on Emerging Markets’
Ardoino, who highlighted his ideas in a recent exclusive interview with BitKE is seen as the perfect candidate for the position of Tether’s CEO, citing his substantial influence that… pic.twitter.com/qfzLx5wEwD
— BitKE (@BitcoinKE) October 18, 2023
In November 2023, Tether made a substantial investment of $622.6 million in Northern Data Group, a technology company headquartered in Frankfurt, Germany. Northern Data Group specializes in generative AI cloud platforms, Bitcoin mining operations, and offers data center infrastructure services.
Moreover, the company says it has began a global recruitment drive for top-tier talent to contribute to its burgeoning AI division.
#tether is hiring a head of AI R&D and AI engineers.Mind-blowing flow of projects and investments in the pipeline.
Tether has recently secured an important investment into one of the biggest AI infrastructure providers in the world… so access to AI compute (GPUs, …) won't… https://t.co/AhIJMYmXaI
— Paolo Ardoino (@paoloardoino) March 26, 2024
“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 model development,” Tether said.
The company has also recently launched an educational division to focus on Africa and other emerging markets.
LAUNCH | Tether ( $USDT ) Launches Educational Division to Focus on Africa and Other Emerging Markets
According to #Tether CEO, some of the educational materials provided by Tether Edu might come with a fee. The initiative, still in its pre-launch phase, is actively recruiting… pic.twitter.com/btW2Oxgq0Q
— BitKE (@BitcoinKE) February 6, 2024
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