Renowned investor and “Shark Tank” personality Kevin O’Leary acknowledged Tuesday the enhanced role of artificial intelligence and blockchain technology in driving cost efficiency and productivity across sectors.
‘Every Sector Leveraging AI’
In an X post, O’Leary admitted that three years ago he viewed AI as a “hype,” but now sees it as a real driver of economic growth.
“Every sector is now leasing AI to cut costs and boost productivity. That's why the indexes are hitting new highs,” O’Leary said.
Bitcoin Miners Secure Lucrative AI Deals
The argument was particularly valid for some Bitcoin BTC/USD mining companies, which have lately entered into multi-billion-dollar partnerships with leading technology and cloud leaders to provide AI infrastructure services.
IREN Ltd IREN secured a five-year, $9.7 billion contract with Microsoft Corp. MSFT to provide access to Nvidia Corp.’s NVDA latest GB300 GPUs for cloud-based AI services.
Similarly, Cipher Mining Inc. CIFR announced a 15-year, $5.5 billion lease with Amazon.com Inc.’s AMZN AWS to deliver 300 megawatts of turnkey AI infrastructure.
MARA Holdings Inc. MARA CEO Fred Thiel admitted that investors currently place limited value on the Bitcoin mining business, but that the company's expanding focus on energy generation and AI could get it more attention in the future.
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Stablecoins, Blockchains Also A Growth Area, Says O’Leary
O’Leary then shifted the focus to blockchains, particularly their role in aiding stablecoin payments.
“We're seeing blockchain merge with real-world payments, not cryptocurrency speculation, but billions of transactions backed by the U.S. Treasury,” the “Shark” said, referring to dollar-pegged cryptocurrencies that are backed by cash and cash equivalents.
He anticipated stablecoins to become a “world standard” for micropayments, and that blockchain would become part of the “real narrative.”
O’Leary, also known as “Mr Wonderful,” has been bullish on the prospect of AI, describing it as one of the smartest investments small business owners can make.
He has been known for his long-standing belief in the potential of Bitcoin and Ethereum ETH/USD along with cryptocurrency infrastructure companies, including Coinbase Global Inc. COIN and Circle Internet Group Inc. CRCL
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