Latest news with #Bittensor
Business Wire
9 hours ago
- Business
- Business Wire
Oblong Deploys $8M in Fully Staked $TAO to Capitalize on Decentralized AI Surge
DENVER--(BUSINESS WIRE)--Oblong (Nasdaq: OBLG), leading the charge in innovative treasury strategies, today announces it has now invested $8 million in Bittensor ($TAO), fully staked with a trusted main validator. This bold move underscores Oblong's unwavering belief in decentralized and distributed AI as a game-changer, enabling global innovators to build open-source intelligence without centralized gatekeepers. In Bittensor, staking means putting $TAO to work to support the network's operations and reward top AI innovators, much like how Ethereum investors stake tokens to secure the blockchain and earn profits. Unlike Ethereum, Bittensor's staking directly fuels a global AI marketplace, driving breakthroughs in every AI silo from serverless compute, multi-modal AI to advanced text prompting and reasoning akin to a 'decentralized ChatGPT.' By staking its entire $TAO position, Oblong reinvests in this ecosystem, strengthening innovation and aligning with its vision of a decentralized AI future. 'Our $8 million $TAO investment, fully staked for strong returns, shows our commitment to a decentralized AI revolution,' said Pete Holst, CEO of Oblong. 'Our goal is to build wealth for investors while advancing a global AI community.' Oblong will continue to evaluate additional $TAO purchases on a weekly basis. The Company is also exploring partnerships within the Bittensor ecosystem to potentially develop technology offerings, further aligning its operational and treasury strategies. Transparent updates on treasury performance, including staking yields and token holdings, will be provided in Oblong's Q2 2025 financial results and at upcoming investor conferences. About Oblong, Inc. Oblong (Nasdaq: OBLG) is building a robust cryptocurrency treasury focused on decentralized artificial intelligence (AI) and the acquisition of $TAO, the native cryptocurrency of Bittensor, a decentralized blockchain network for machine learning and AI. By championing open-source intelligence, Oblong offers unmatched opportunities for retail and institutional investors Forward-looking and cautionary statements This press release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, that address activities that Oblong assumes, plans, expects, believes, intends, projects, estimates, or anticipates (and other similar expressions) will, should, or may occur in the future are forward-looking statements and include, but are not limited to, statements regarding market opportunity and the Company's new Bittensor-centric AI and digital asset strategy. Oblong's actual results may differ materially from its expectations, estimates, and projections, and consequently, you should not rely on these forward-looking statements as predictions of future events. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include statements relating to the Company's plans to: i) deliver returns through staking $TAO, ii) explore partnerships within the Bittensor ecosystem to potentially develop technology offerings, further aligning its operational and treasury strategies, and iii) offer unmatched opportunities for retail and institutional investors. The forward-looking statements are based on management's current belief, based on currently available information, as to the outcome and timing of future events and involve factors, risks, and uncertainties, including market and other conditions and the volatility of market price for our securities, that may cause actual results in future periods to differ materially from such statements. A list and description of these and other risk factors can be found in the Company's Annual Report on Form 10-K for the year ending December 31, 2024, the Company's Form 8-K filed on June 6, 2025 and in other filings made by the Company with the SEC from time to time. Any of these factors could cause Oblong's actual results and plans to differ materially from those in the forward-looking statements. Therefore, the Company cannot give any assurance that its future results will be as estimated. The Company does not intend to, and disclaims any obligation to, correct, update, or revise any information contained herein.
Yahoo
2 days ago
- Business
- Yahoo
AI tokens tumble ahead of AMD's latest earnings
AI tokens tumble ahead of AMD's latest earnings originally appeared on TheStreet. Advanced Micro Devices (Nasdaq: AMD), the Santa Clara, California-headquartered semiconductor company that has integrated artificial intelligence (AI) technology into its solutions, is expected to report its earnings for Q2 2025 on Aug. 5. Not only did the company's stock fall more than 0.43% ahead of the earnings, but the AI crypto tokens also tumbled. These tokens are cryptocurrencies that empower the development of blockchain-based, decentralized AI projects. Most of these tokens have dipped during the same timeframe. TAO, the AI token behind the decentralized ML network called Bittensor, dipped 5.83% within 24 hours to $338.30 at press time. NEAR, another leading AI token, dropped 2.02% to $2.47. ICP, the token powering decentralized AI solutions at the Internet Computer protocol, fell 2.80% to $5.09. RENDER, the AI token powering the decentralized GPU rendering platform, also fell 3.98% to $ the token supporting the digital infrastructure behind decentralized AI, dropped 2.56% to $2.33. FET, the AI token behind the Artificial Intelligence Alliance consortium, fell 2.20% to $0.6417. INJ, the token lying at the intersection of AI and DeFi at the Injective protocol, fell 2.31% to $13.10. GRT, the token behind The Graph indexing protocol that supports AI agents, dipped 4.97% to $0.08882. VIRTUAL, the token behind the AI agent-enabling Virtuals Protocol, also dipped 4.64% to $1.18. The IP token, however, remained the sole exception among the top AI tokens. The token, which is behind the Story protocol that serves as the foundation for intellectual property (IP), rose 1.83% to $6. The AI token market cap has declined 0.6% within the last 24 hours to $27.4 billion at press time. AI tokens tumble ahead of AMD's latest earnings first appeared on TheStreet on Aug 5, 2025 This story was originally reported by TheStreet on Aug 5, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
2 days ago
- Business
- Business Wire
Oblong Taps $TAO Expert Siam Kidd to Lead Strategic Advisory Committee and Accelerate Decentralized AI Expansion
DENVER--(BUSINESS WIRE)--Oblong (Nasdaq:OBLG), dedicated to advancing decentralized artificial intelligence through strategic treasury investments in Bittensor ($TAO), is thrilled to announce the formation of its Advisory Committee, with Siam Kidd appointed as its inaugural member. This milestone underscores Oblong's commitment to building a robust platform for investors seeking exposure to the rapidly growing decentralized AI ecosystem. Siam is a globally recognized crypto investor, trader, and thought leader with over 21 years of experience in financial markets, including M&A and hedge fund management. As Co-Founder and Chief Investment Officer of DSV Fund, the world's first hedge fund exclusively dedicated to Bittensor ($TAO), Kidd has pioneered institutional-grade strategies for decentralized AI investments. His leadership has positioned DSV to capitalize on $TAO's explosive growth within Bittensor's subnet ecosystem, which now drives over 50 million daily AI inferences and a combined subnet market cap nearing $1 billion. A former RAF pilot, Kidd brings a disciplined, data-driven approach to navigating volatile markets. His deep expertise in $TAO's tokenomics and subnet operations enables him to craft strategies that maximize Bittensor's potential as the 'FTSE100 of decentralized AI,' framing it as a scalable, censorship-resistant alternative to centralized AI giants. 'Decentralized AI is reshaping the future of technology, and Bittensor is at the forefront of this revolution,' said Kidd. 'I'm excited to join Oblong's Advisory Committee to help build a treasury strategy that captures the diverse potential of this ecosystem, delivering value to investors while advancing open-source innovation.' The Advisory Committee will provide strategic guidance on optimizing Oblong's $TAO-focused treasury, identifying high-impact investment opportunities in development teams on the Bittensor platform, known as subnets, and fostering partnerships within the decentralized AI space. Kidd's appointment signals Oblong's dedication to establishing credibility and delivering long-term value for retail and institutional investors. 'Siam's expertise and vision make him the ideal first member of our Advisory Committee,' said Pete Holst, CEO of Oblong. 'His proven track record in leveraging Bittensor's ecosystem will guide our $TAO treasury strategy, positioning Oblong as a premier vehicle for investors in the decentralized AI revolution.' Oblong is actively expanding its Advisory Committee to include additional experts in AI, blockchain, and finance, further strengthening its strategic position. About Oblong, Inc. Oblong (Nasdaq: OBLG) is building a robust cryptocurrency treasury focused on decentralized artificial intelligence (AI) and the acquisition of $TAO, the native cryptocurrency of Bittensor, a decentralized blockchain network for machine learning and AI. By leveraging the power of decentralized AI, Oblong aims to provide investors with unparalleled exposure to the future of open-source intelligence. The Company also provides innovative video collaboration and network solutions, centered around our patented Mezzanine™ product line and managed services. Forward-looking and cautionary statements This press release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, that address activities that Oblong assumes, plans, expects, believes, intends, projects, estimates, or anticipates (and other similar expressions) will, should, or may occur in the future are forward-looking statements and include, but are not limited to, statements regarding market opportunity and the Company's new Bittensor-centric AI and digital asset strategy. Oblong's actual results may differ materially from its expectations, estimates, and projections, and consequently, you should not rely on these forward-looking statements as predictions of future events. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include statements relating to the Company's plans to i) identify high-impact investment opportunities in development teams on the Bittensor platform, known as subnets, and fostering partnerships within the decentralized AI space and ii) establishing credibility and delivering long-term value for retail and institutional investors. The forward-looking statements are based on management's current belief, based on currently available information, as to the outcome and timing of future events and involve factors, risks, and uncertainties, including market and other conditions and the volatility of market price for our securities, that may cause actual results in future periods to differ materially from such statements. A list and description of these and other risk factors can be found in the Company's Annual Report on Form 10-K for the year ending December 31, 2024, the Company's Form 8-K filed on June 6, 2025 and in other filings made by the Company with the SEC from time to time. Any of these factors could cause Oblong's actual results and plans to differ materially from those in the forward-looking statements. Therefore, the Company cannot give any assurance that its future results will be as estimated. The Company does not intend to, and disclaims any obligation to, correct, update, or revise any information contained herein.
Cision Canada
30-07-2025
- Business
- Cision Canada
xTAO Provides Update on TAO Holdings, Becomes Largest Publicly Traded Holder of TAO
GRAND CAYMAN, Cayman Islands, July 30, 2025 /CNW/ - xTAO Inc. (TSXV: XTAO.U) (the " Company" or " xTAO"), a publicly traded technology company focused on building infrastructure for Bittensor and its decentralized AI ecosystem, today announced the scale of its current TAO holdings following its public listing on the TSX Venture Exchange. As of July 30, 2025, xTAO holds a total of 41,538 TAO, an amount that now makes it the world's largest publicly traded holder of the native token of the Bittensor Network, to the Company's knowledge, based on publicly available information. The Company maintains substantial cash reserves, which position it to continue to acquire TAO. xTAO's treasury will play a central role in both expanding its own validator operations and building out infrastructure for growing the broader Bittensor ecosystem. The Company is actively staking its TAO holdings to the Bittensor root network, earning an annual yield of approximately 10 percent, although such projections are subject to fluctuations in token price, validator performance and various network dynamics. "The TAO treasury gives us immediate economic exposure to Bittensor and the fuel to stand up validators that generate reliable revenue," said xTAO's CEO, Karia Samaroo. "Our goal is simple: build core infrastructure, earn sustainable cash flow, and compound value alongside the Bittensor network." About xTAO xTAO is a technology company building infrastructure for the Bittensor ecosystem. xTAO is committed to advancing Bittensor and decentralized AI through building infrastructure and making strategic investments. xTAO is headquartered in the Cayman Islands and is publicly listed on the TSX Venture Exchange under the ticker "XTAO.U." Learn more at On Behalf of the Board of Directors of xTAO Inc. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, Bittensor staking yield and revenue, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
Yahoo
25-07-2025
- Business
- Yahoo
Robinhood just bought his firm. Now this crypto founder is going all-in on ‘decentralised AI'
Karia Samaroo likes to start companies. The Canadian entrepreneur has previously founded a crypto-focused investment bank, a project designed to detect deepfakes, and the crypto services firm WonderFi, which fintech giant Robinhood agreed to acquire for $182 million in May. For Samaroo's next venture, he's going all-in on a fledgling project called Bittensor, a blockchain network designed to offer an alternative to centrally controlled artificial intelligence powerhouses like OpenAI and Google. 'It was like when I first found Bitcoin and saw the problem that it was trying to solve,' Samaroo told DL News in an interview. 'It's the best shot on goal that we have for decentralised AI.' New firm Samaroo is backing Bittensor through xTAO, a new firm which he founded in December. On Monday, the Cayman Islands-domiciled company announced the raise of $22.8 million from venture investors including Animoca Brands, Digital Currency Group, and FalconX, among others. The firm will use a portion of the funds to buy TAO, Bittensor's native token, to keep in its corporate treasury. Bittensor launched its blockchain network and the TAO token in 2021. In late 2023, TAO surged 1,400% amid a wave of AI interest, and hit an all-time high of $757 the following March. The token has since retraced and trades at around $424, with a market value of just over $4 billion. Crypto treasury craze The news comes as crypto treasury companies explode in popularity. Yet with the increased attention, some are also starting to question them. Famed short seller Jim Chanos recently compared the hype surrounding Bitcoin treasury firms to the SPAC mania of 2021, which raised $90 billion in just three months before crashing. Others, such as Bloomberg News opinion columnist Matt Levine, have observed how holding crypto through a public company increases its value with investors. 'The basic situation is that US public equity markets will pay about $2 for $1 worth of Bitcoin. I don't know why this is, and I am not especially happy about it, but it's true,' Levine said. As for Bittensor, there are already three other publicly traded firms that hold over $1 million worth of TAO on their books. Samaroo said xTAO will set itself apart from them by also helping build, support, and scale the Bittensor ecosystem. 10% return The firm will stake its TAO for a 10% return and operate validators on the network, an activity which also generates revenue. There are also plans to provide clients access to products created on Bittensor through APIs and licensing agreements. 'We're a treasury company, but we're really trying to shift away from that, because I think there's a lot more that we can do,' Samaroo said. Why Bittensor? Samaroo said his support for Bittensor stems from his belief in AI. 'This is going to be the most powerful tool that humanity ever creates, and maybe the last one,' he said. But like many others, he's worried that a small group of powerful, well-funded companies currently have a monopoly on the most powerful AI models. Bittensor supporters say it is the answer to AI's centralisation problem. The network allows anyone to contribute their computing power to AI applications called subnets. In return, they are rewarded with valuable TAO tokens, similar to how the Bitcoin blockchain rewards those who process transactions with new Bitcoins. Supporters say Bittensor's decentralised model has a shot at competing with established AI firms because it isn't limited by the amount of money it can raise, as traditional firms are. Bittensor may be more decentralised. But it is also affected by the same issues that have landed AI companies in hot water, primarily concerning copyright infringement related to how their AI models are trained and the content they generate. In December 2023, The New York Times sued OpenAI for allegedly using the newspaper's articles to train its ChatGPT chatbot without permission or compensation. Last month, Disney and Universal also sued Midjourney, calling the firm's AI-powered image generator a 'bottomless pit of plagiarism' for its alleged reproductions of the studios' best-known characters. Samaroo said some of Bittensor's subnets have mechanisms in place to tackle issues with training data. However, because the network is decentralised, it may also be difficult to enforce best practices among everyone contributing to it. Market risk Betting on Bittensor is especially risky because it's at the intersection of arguably the two most hyped industries in recent years: crypto and AI. The crypto market is known for its extreme volatility. Dozens of analysts, including Apollo Global Management chief economist Torsten Sløk, have warned that the excitement surrounding AI technology is a bubble waiting to burst. Samaroo said xTAO is set up so it can withstand a 70% drawdown in the TAO token. The firm will keep cash on its balance sheet and forego using leverage to juice the amount of TAO it can acquire. 'I want to make sure that we have that runaway for the situation of an extended bear market,' he said. 'Having gone through a few crypto winters, I think the most important thing is that this just stays alive.' Tim Craig is DL News' Edinburgh-based DeFi Correspondent. Reach out with tips at tim@
