Tether invests $81.6M in Italian Humanoid-Robotics firm as AI push accelerates

The post Tether invests $81.6M in Italian Humanoid-Robotics firm as AI push accelerates appeared on BitcoinEthereumNews.com.

Tether, known as the issuer of the stablecoin USDT, has made a major foray into robotics and physical AI by backing Europe’s up‑and‑coming humanoid robotics firm Generative Bionics with a contribution to a €70 million (approx. $81.6 million) funding round. Notably, this startup develops industrial robots utilizing research from the Italian Institute of Technology. This funding round was led by CDP Venture Capital, a company supported by the Italian government and operating through its Artificial Intelligence Fund. This information was made public following the release of Generative Bionics’s statement, shared by a reliable source. Some of the firms that participated in this round, apart from Tether, included AMD Ventures, the investment arm of the American chipmaker Advanced Micro Devices, and other industry investors. Tether aims to solidify its position as a leader with major investments in AI  Tether’s investment marks another significant milestone in the company’s ongoing series of deals. Concerning its role in issuing the USDT stablecoin, sources acknowledged that stablecoins, cryptocurrencies that are typically connected to traditional currencies such as the dollar, have recently gained popularity, preferred by many as a suitable alternative method of payment. These sources also elaborated that this type of cryptocurrency usually relies on cash reserves and US government bonds issued on a short-term basis to maintain its value.  Following this finding, Tether shared its forecast that the reserves supporting USDT will help it in attaining its target of generating approximately $15 billion in profit this year. The company made this prediction after noting high interest rates in the sector. Based in El Salvador, Tether has been utilizing these profits to expand its presence in various fields, including commodities, artificial intelligence, and sports. The firm also disclosed its growing interest in fields of AI and data. According to the Chief Executive Officer (CEO) of Tether, Paolo…