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As developments in the field of artificial intelligence continue at full speed around the world, news continues to follow one after another. The leap made by Nvidia has brought significant dynamism to the industry. The use of Chatgpt, as well as the presence of other artificial intelligences, paves the way for innovations in the industry every day. In this context, a new development occurred on the Tether side, and an important announcement was made.
Tether’s Move into Artificial Intelligence
USDT‘s issuer, Tether, made a statement that the company is trying to expand its artificial intelligence capabilities by activating its AI division.
In the announcement made by Tether on Tuesday, it was announced that they wanted to hire “the best talents” in the field of artificial intelligence. The purpose was also emphasized in the company’s announcement, stating that it was “to lead the development of open-source, multimodal AI models to set new industry standards, and to increase innovation and accessibility in AI technology.”
Since the announcement by Tether, only two job postings have been published to date: one for an artificial intelligence research and development director and the other for an artificial intelligence engineer.
Tether’s Previous Investment in Artificial Intelligence
Tether, which has made efforts in artificial intelligence operations in the past, made an undisclosed investment in German data center operator Northern Data in September 2023 to strengthen this branch.
As previously stated, just two months after this investment, Tether provided significant support by raising the debt financing of Northern Data to $610 million, among other ventures.
Tether CEO Paolo Ardoino made the following statement:
“Our investment in the Northern Data Group, known for its flexible and high-performance technologies, aligns perfectly with our vision,” he said. “Today’s announcement establishes a new division within Tether that redefines the boundaries of artificial intelligence and democratizes open artificial intelligence technology while setting industry benchmarks for innovation, utility, and transparency, all while preserving privacy.”
The issuer of USDT, Tether, according to recent calculations, holds a 70.5% share of the stablecoin supply pegged to the US dollar in crypto. Tether is significantly ahead of its competitors in this regard and ranks 3rd in market capitalization, right behind Ethereum.
