Market Metrics

Total Crypto Market Cap: down .5% to $2.48T
Total AI Sector Market Cap: up 3.5% to $21.2B

Top Movers (7 days):

📈 dotmoovs (MOOV): up 101.3% to $0.0109
📈 Aleph.im (ALEPH): up 72.4% to $0.2548
📈 Spectre AI (SPECTRE): up 41.9% to $2

Daily News

🟠 CNBC released an article detailing Bitcoin miners’ pivoting from mining Bitcoin to decentralized computing due to profitability struggles post-BTC halving.

🟠 Nillion has released details on its new community driven marketing campaign, the Data War, in an effort to drive organic growth and support for the project.

🟠 Aethir released a signup form for its A-Team ambassador program. Members earn “exclusive perks,” and if you believe you would qualify for the team, you can signup here!

🟠 Yiedl.ai was hacked for ~$300k on its new BSC vault. The team stated they have “the support of ChangeNow, the Singapore police, and the BNB support team. We advise you to return the stolen amount.”

Highlights of the Week

☁️ Aethir and io.net Tackle Growing Demand for GPU Computing

Aethir and io.net have announced a strategic collaboration to address the growing demand for GPU computing in AI (expected to 4x by 2030), machine learning, and gaming applications. The partnership will integrate io.net's virtualization technology with Aethir's enterprise-grade distributed GPU cloud, creating a low-latency solution for GPU-intensive workloads.

Aethir is building an enterprise-grade, distributed GPU cloud, that leverages a multitude of globally distributed servers to cut the physical distance between GPUs and end-users. IOnet has created a GPU marketplace, or the “airBNB for GPUs”, enabling AI projects to instantly deploy Ray and Kubernetes clusters on top of a network of community-committed GPUs and CPUs.

As discussed in Monday's newsletter, io.net's unique approach to GPU clustering and its ability to democratize access to computing resources for both Web2 and Web3 clients positions the platform to play a crucial role in meeting this increasing demand. This partnership could be a game-changer in addressing the limited availability, high costs, and strict access requirements associated with traditional centralized cloud providers.

🏧 Stripe Embraces Crypto Payments

Stripe, a leading payment processing platform that processed over $1 trillion in payments last year, has announced its plans to accept global stablecoin payments. This is a significant step towards mainstream adoption of cryptocurrencies. The company recently demonstrated the ease of paying for a subscription using USDC on Solana. You can view the demo of Stripe's integration of crypto payments here.

Stripe's integration of stablecoin payments allows users to pay with crypto while merchants receive fiat currency, without the need for businesses to directly engage with cryptocurrencies. The seamless integration offers advantages such as instant, irreversible settlement, low fees, and cross-border transactions, all while the merchant receives payment as they would from traditional methods like card etc.

Stripe CEO Patrick Collison hinted in an interview at the potential role of cryptocurrencies in the future of autonomous AI agents and AI-facilitated payments. As AI continues to advance and become more integrated into various industries, the use of cryptocurrencies could provide a secure and efficient means of conducting transactions between AI agents and human users.

The move by Stripe to accept stablecoin payments and the CEO's comments on the potential of crypto in AI-facilitated transactions highlight the growing intersection between traditional finance, cryptocurrencies, and artificial intelligence. We may see Stripe lead the way with further innovation in the payments sector, leveraging the benefits of both crypto and AI.

🚘 Elon Musk’s AI Ambitions Grow

Elon Musk's AI ventures are gaining significant traction, with his AI company xAI reportedly raising $6 billion at an $18 billion pre-money valuation. The deal, which is expected to close in the coming weeks, would give investors a quarter of the company. Notable participants in the round include Sequoia Capital and Future Ventures, co-founded by Musk's longtime friend Steve Jurvetson.

xAI's ambition is to connect the digital and physical worlds by leveraging training data from Musk's various companies, including Tesla, SpaceX, Boring Company, and Neuralink. The AI startup has already integrated its chatbot, Grok, into Musk's social media platform, X, as a paid add-on. As xAI continues to develop, it aims to feed Grok data from Musk's other companies, potentially enabling advancements in self-driving cars and humanoid robots like Tesla's Optimus.

In addition to xAI's fundraising success, Tesla has significantly increased its AI computing infrastructure over the past year. The company has gone from less than 5,000 H100 Equivalent GPUs to nearly 40,000, a 700% increase.

This increased investment in AI aligns with Musk's statement that Tesla's humanoid robot, Optimus, "has the potential to be more significant than [Tesla's] vehicle business over time." It's worth noting that Musk has been pro-crypto in the past, with both Tesla and SpaceX holding significant amounts of Bitcoin. Tesla recently confirmed that they still hold over $700 million worth of BTC.

It will be interesting to see how Musk’s vision for AI and crypto evolves over time.

Meme of the Day

You aren’t really in the trenches man, you’re just a degenerate and you aren’t fooling anyone!

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