Tether is diversifying beyond stablecoins with a $775M investment in Rumble to support AI expansion, decentralized platforms and plans to enter the AI sector by 2025. The move aligns with its commitment to “freedom tech” and global growth initiatives.
USDT, the world’s largest stablecoin, is being backed by Tether, a company that is making headlines with a succession of bold business moves.
Tether is expanding its portfolio beyond its stablecoin origins with a $775 million investment in the YouTube-alternative platform Rumble and its intention to enter the artificial intelligence (AI) sector by 2025.
Tether’s $775 million investment in Rumble
Tether has announced a substantial investment of $775 million in Rumble, a platform that is positioned as a competitor to YouTube. Tether will acquire 103.3 million shares of Rumble and allocate $250 million to support Rumble’s expansion and expansion to a broader global audience as part of this agreement.
Tether’s CEO, Paolo Ardoino, characterized this investment as a component of the company’s commitment to “freedom tech,” which encompasses the promotion of open communication and cryptocurrency through decentralized platforms.
It is intriguing that Rumble is also delving deeply into the cryptosphere. It expressed its enthusiasm for blockchain technology by announcing its intention to allocate $20 million from its financial reserves to Bitcoin investments last month.
Tether Plans AI Expansion
Tether is preparing to penetrate the artificial intelligence industry in the future. In a recent remark, CEO Paolo Ardoino disclosed that Tether’s AI platform will be launched in the first quarter of 2025. This is a significant development for Tether, which has previously concentrated on stablecoins.
Tether collaborated with Northern Data, an organization that specializes in artificial intelligence and cloud computing, last year. This partnership was instrumental in establishing the foundation for Tether’s entrance into the AI sector.
The platform has the potential to assist Tether in becoming a leader in the integration of finance and technology if it is successful.
Revenue Report for Tether (USDT)
Tether’s USDT stablecoin remains its most significant revenue generator, contributing to the company’s record profits of $2.5 billion in the third quarter of 2024 and bringing year-to-date earnings to an astounding $7.7 billion..
At the same time, Tether’s assets have increased to $139.4 billion as a result of strategic investments in renewable energy, Bitcoin mining, telecommunications, education, and AI.
