Tether, a global leader in the stablecoin arena, is gearing up to launch an artificial intelligence (AI) platform in the first quarter of 2025 as part of its diversification strategy. The platform will allow users to interact with AI through their mobile devices.
“I just got the draft site for our AI platform. Planning to wrap it up by the end of Q1 2025,” — wrote CEO Paolo Ardoino on his X account (formerly Twitter), noting that the project is in its final stages of development.
On December 20, Tether announced a strategic investment of $775 million in Rumble, a leading video platform and cloud service provider. The investment includes an initial cash contribution of $250 million. Tether will also support Rumble’s tender offer to buy up to 70 million shares at a price of $7.50 each. Following the completion of the deal, expected early next year, Rumble’s Chairman and CEO Chris Pavlovski will retain a controlling stake in the company.
In 2024, Tether initiated funding for new projects and revised its corporate structure to better adapt and reduce reliance on stablecoins, securing its place among leading tech companies. This financial year has been extraordinarily successful for the company, with a net profit expected to be $10 billion. Next year, at least 50% of the profit will be directed towards the development of artificial intelligence and other investment projects.
Tether is best known for its flagship product — the USDT stablecoin, which with a market cap of $140 billion is the world’s most popular. However, recently, worthy competitors have emerged in this market. For instance, the stablecoin Ethena USDe has surpassed DAI and secured a spot in the top three by market capitalization. Additionally, Ripple launched its own stablecoin RLUSD.