Cryptocurrencies continue to capture the imaginations of alternative asset investors amid recent record highs. But the incorporation of artificial intelligence in the crypto space could push AI-focused ETFs even higher.
The addition of an AI-focused fund by crypto asset manager Grayscale speaks volumes in AI's rise to market dominance. Grayscale has been one of the early purveyors of crypto-focused funds. It's now giving investors options to decentralized AI exposure.
From chat bots to generative images, the artificial intelligence space is growing exponentially. This will spur a development in AI-supported software. But the hardware will also need to keep up. That will create the need for advanced technologies and infrastructure.
“The rise of disruptive technologies has created compelling opportunities for Grayscale’s investors since our 2013 inception, and we believe the launch of the Grayscale Decentralized AI Fund provides an opportunity to invest in Decentralized AI at its earliest phase," said Rayhaneh Sharif-Askary, Grayscale’s head of product and research, in a statement. "The blockchain-based AI protocols embody the principles of decentralization, accessibility, and transparency, and the Grayscale team feels strongly that these protocols can help mitigate the fundamental risks emerging alongside the proliferation of AI technology.”
As mentioned, the buildout of artificial=intelligence-supported infrastructure will be imperative. It's already happening in parts of Texas, where tech companies are pivoting from cryptocurrency mining to focus on artificial intelligence.
“Data centers are rapidly evolving to support modern AI workloads, requiring new levels of high-density rack space, direct-to-chip liquid cooling and unprecedented overall energy demands,” said Chase Lochmiller, Crusoe’s co-founder and CEO.
