Tether invests $81.6 million in Generative Bionics, an Italian humanoid robotics company, to make progress in industrial AI and robotics.
The financing will facilitate product development through the research done by the Italian Institute of Technology. It will prepare the company to introduce its first humanoid robot at CES in Las Vegas in January this year.
Strategic AI investment
The round of funding is a partnership with Tether, which is one of several contribution sources (totaling 70 million) to support a considerable project spearheaded by CDP Venture Capital, and backed by the Italian government, via their Artificial Intelligence Fund. Others who were involved were AMD Ventures and some industry investors.
Generative Bionics is an industry-oriented company that works on the system of industrial robots incorporating tactile sensing, an AI learning system, and human-robot interaction technology in the sphere of manufacturing and logistics. The investment will enable the firm to recruit engineers from the Italian Institute of Technology and expedite the growth of its physical AI systems.
The CEO of Tether, Paolo Ardoino, has said that the company intends to enhance its involvement in AI and data-driven technologies and encourage people to have control over their personal data. Interests of the company in robotics add to the earlier investment undertakings, such as the support of Blackrock Neurotech, which works on the technology of brain-computer interfaces.
Stablecoin and profit strategy
Tether, which is the issuer of the USDT stablecoin, has been spending its reserves on venturing beyond digital currencies via commodities, sports, and AI. According to the sources, USDT is pegged to cash reserves and short-term US government bonds. The company is projecting a profit of approximately 15 billion this year, which is due to the high interest rates and investments.
Another goal of the stablecoin issuer is to lend more to commodities traders to provide credit in both US dollars and USDT. The plan focuses on commodities like oil, cotton, wheat, amongst other agricultural products. Although Tether is relatively small compared to the largest banks in this industry, the reserves of $200 billion offer the company huge earning capacity and leverage in the market. Ardoino pointed out that lending with USDT makes the firm exploit the digital currency demand in other areas, such as Latin America.
Impact on the industry and future showcase
The robots developed by Generative Bionics are meant to capture productivity using AI automation. The startup is getting ready to be used in the industrial sphere, and at the same time, it is working on human-robot interaction to increase the usability in the workplace. It will launch its first humanoid robot publicly at CES in Las Vegas in January, and this will be a big milestone for the company and to AI strategy of Tether.
The move by Tether to invest also indicates that there is an increase in how AI and physical robotics marry, and the company covers more than just digital currency; it is an actual technological innovation. The acquisition makes the company a prominent force in the new robotics ecosystem in Europe, as well as fortifies its portfolio in AI, commodities, and financial technology.
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