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Published on March 31, 2024

Tether Ventures into AI, Hiring For New Data Division

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henryrussel

Henry Russell

@henryrussell

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Implications for AI and Crypto Sectors

Tether's foray into AI holds significant implications for both the AI and crypto sectors. As AI continues to revolutionize various industries, including finance and technology, Tether's investment in AI signals a broader trend of convergence between AI and blockchain technology. The integration of AI solutions into market-driven products and the development of open AI models have the potential to reshape existing paradigms and unlock new opportunities for innovation.

In the crypto sphere, Tether's diversification beyond stablecoin issuance underscores the importance of exploring synergies between AI and blockchain technology. The intersection of AI and crypto has already catalyzed the emergence of new startups and investor interest in areas such as content verification and smart contract optimization. Tether's strategic move to establish Tether Data reflects its proactive stance in harnessing AI's transformative potential to drive future growth and innovation in the crypto ecosystem.

Tether, known for its dominance in the stablecoin market, is expanding its horizons with the launch of Tether Data, a dedicated division aimed at exploring the potential of artificial intelligence (AI). This strategic move underscores Tether's commitment to innovation and diversification beyond its core stablecoin business.

AI Ambitions: Tether's Foray into Artificial Intelligence

The announcement of Tether Data marks a significant milestone for the company, signaling its entry into the burgeoning field of AI. With a vision to "build the next generation of open AI models," Tether is actively seeking top talent to drive innovation in AI technology. The company's recruitment drive includes positions for an AI engineer and a head of AI research and development, reflecting its ambitious AI agenda.

Synergies with Northern Data Group: A Strategic Investment

Tether's venture into AI is closely intertwined with its strategic investment in Northern Data Group, a prominent player in the data center industry. In November, Tether injected a substantial sum of 575 million euros (approximately $623 million) into Northern Data Groupthrough debt financing. This investment underscores Tether's commitment to leveraging cutting-edge technologies, as Northern Data Group boasts a robust infrastructure equipped with GPUs essential for AI development.

In a statement, Paolo Ardoino, CEO of Tether, highlighted the alignment between Tether's vision and Northern Data Group's resilient and high-performance technologies. By establishing Tether Data as a new division, the company aims to redefine AI boundaries, democratize privacy-preserving open AI technology, and set industry benchmarks for innovation, utility, and transparency.