Bullish Provides $100 Million to USD.AI for AI Chip Financing

Cryptocurrency exchange Bullish has announced a $100 million investment in USD.AI, an artificial intelligence-focused platform looking to finance AI infrastructure. The funding, provided in the form of stablecoins, will enable USD.AI to offer loans backed by graphics processing units (GPUs). USD.AI, which acts as a bridge between investors and companies needing AI financing, has locked up over $225 million worth of crypto assets in its protocol as of Friday.

Bullish will also begin trading USD.AI's sUSDai token across multiple trading pairs on its exchange. David Choi, CEO of USD.AI's parent company Permian Labs, sees compute resources as the new frontier for credit markets, making Bullish the ideal partner to drive this growth. This investment is part of Bullish's strategy to integrate traditional financial infrastructure with blockchain technology, including its recent acquisition of Equiniti and its application for a regulated derivatives exchange in the U.S. As of now, Bullish shares are trading at $33 per share, marking a 52% decline since the company went public last summer.