AI-Focused Crypto Protocol Fetch.ai Raises $40M to Deploy Decentralized Machine Learning

The investment comes after traders started to bet on the potential of AI and crypto, following the recent rise in popularity of AI-driven chatbots such as ChatGPT and image generation software DALL-E. Both of these are traditional software that do not use cryptocurrencies or blockchain, However, a spike in institutional interest in their parent company – OpenAI, which recently raised $10 billion from Microsoft at a $29 billion valuation – has helped create a compelling argument for crypto traders to bet on AI-focused tokens as the next growth sector.